08 Dec 2019 | 10:01 PM

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COMPANYNEWS
G G Automotive Gears Q2 net profit down 35.24% at Rs 0.68 cr
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Published on 11-08-2019
The company reported standalone net profit of Rs 0.68 crore for the quarter ended September 30 2019 as compared to Rs 1.05 crore in the same period last year registering a year-on-year decline of 35.24 per cent.


Net revenue of the company rose moderately by 18.58 per cent at Rs 13.91 crore in July-September quarter of this fiscal as against Rs 11.73 crore in the corresponding period last year.


During July-September quarter operating expenses increased by 29.33 per cent to Rs 11.86 crore from Rs 9.17 crore in year ago period.


Other Income grew by 133.33 per cent at Rs 0.07 crore versus (Sep`18 Rs 0.03 crore).


Operating Profit slipped by 19.92 per cent to Rs 2.05 crore as against Rs 2.56 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 32.34 per cent in September quarter.


Interest grew by 42.86 per cent y-o-y to Rs 0.70 crore while Taxation decreased by 91.43 per cent at Rs 0.03 crore (Sep`18 Rs 0.35 crore).