08 Dec 2019 | 10:02 PM

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COMPANYNEWS
Gravita India posts Q2 net profit of Rs 8.71 cr
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Published on 11-12-2019
The company reported standalone net profit during the quarter stood at Rs 8.71 crore compared to net loss of Rs 2.43 crore in the previous year quarter.


Net revenue of the company rose moderately by 19.77 per cent at Rs 283.85 crore in July-September quarter of this fiscal as against Rs 237.00 crore in the corresponding period last year.


During July-September quarter operating expenses increased by 16.31 per cent to Rs 271.75 crore from Rs 233.65 crore in year ago period.


Other Income grew by 19.35 per cent at Rs 0.37 crore versus (Sep`18 Rs 0.31 crore).


Operating Profit surged by 260.90 per cent to Rs 12.09 crore as against Rs 3.35 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 202.13 per cent in September quarter.


Interest grew by 5.32 per cent y-o-y to Rs 6.53 crore while Taxation increased by 186.21 per cent at Rs -4.98 crore (Sep`18 Rs -1.74 crore).