06 Dec 2019 | 2:32 PM

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COMPANYNEWS
Hi-Tech Pipes Q2 net profit down 20.33% at Rs 3.84 cr
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Published on 11-15-2019
The company reported standalone net profit of Rs 3.84 crore for the quarter ended September 30 2019 as compared to Rs 4.82 crore in the same period last year registering a year-on-year decline of 20.33 per cent.


Net revenue of the company declined substantially by 22.21 per cent at Rs 215.64 crore in July-September quarter of this fiscal as against Rs 277.20 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 21.09 per cent to Rs 207.30 crore from Rs 262.69 crore in year ago period.


Other Income grew by 40.00 per cent at Rs 0.21 crore versus (Sep`18 Rs 0.15 crore).


Operating Profit slipped by 42.52 per cent to Rs 8.34 crore as against Rs 14.51 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 26.00 per cent in September quarter.


Interest declined by 4.02 per cent y-o-y to Rs 5.97 crore while Taxation decreased by 193.80 per cent at Rs -2.42 crore (Sep`18 Rs 2.58 crore).