30 Sep 2020 | 5:05 AM


Galaxy Bearings Q2 net profit down 41.00% at Rs 1.18 cr
  Galaxy Bearings Ltd. | 16 Jan 2020 | 03:41 PM
Published on 11-09-2019
The company reported standalone net profit of Rs 1.18 crore for the quarter ended September 30 2019 as compared to Rs 2.00 crore in the same period last year registering a year-on-year decline of 41.00 per cent.

Net revenue of the company declined substantially by 39.21 per cent at Rs 12.68 crore in July-September quarter of this fiscal as against Rs 20.86 crore in the corresponding period last year.

During July-September quarter operating expenses dropped by 40.76 per cent to Rs 10.61 crore from Rs 17.91 crore in year ago period.

Other Income dipped by 38.46 per cent at Rs 0.16 crore versus (Sep`18 Rs 0.26 crore).

Operating Profit slipped by 29.59 per cent to Rs 2.07 crore as against Rs 2.94 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 15.80 per cent in September quarter.

Interest declined by 62.50 per cent y-o-y to Rs 0.06 crore while Taxation decreased by 3.85 per cent at Rs 0.75 crore (Sep`18 Rs 0.78 crore).