22 Sep 2020 | 8:21 PM


Galaxy Bearings Q1 net profit down 65.43% at Rs 0.28 cr
  Galaxy Bearings Ltd. | 16 Jan 2020 | 03:41 PM
Published on 08-10-2019
The company reported standalone net profit of Rs 0.28 crore for the quarter ended June 30 2019 as compared to Rs 0.81 crore in the same period last year registering a year-on-year decline of 65.43 per cent.

Net revenue of the company declined moderately by 17.77 per cent at Rs 12.22 crore in April-June quarter of this fiscal as against Rs 14.86 crore in the corresponding period last year.

During April-June quarter operating expenses dropped by 15.07 per cent to Rs 11.44 crore from Rs 13.47 crore in year ago period.

Other Income grew by 18.18 per cent at Rs 0.13 crore versus (Jun`18 Rs 0.11 crore).

Operating Profit slipped by 45.00 per cent to Rs 0.77 crore as against Rs 1.40 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 32.55 per cent in June quarter.

Interest declined by 28.57 per cent y-o-y to Rs 0.10 crore while Taxation decreased by 3.23 per cent at Rs 0.30 crore (Jun`18 Rs 0.31 crore).