06 Dec 2019 | 6:50 AM

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COMPANYNEWS
Himadri Speciality Q2 net profit down 31.83% at Rs 50.51 cr
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Published on 11-13-2019
The company reported standalone net profit of Rs 50.51 crore for the quarter ended September 30 2019 as compared to Rs 74.09 crore in the same period last year registering a year-on-year decline of 31.83 per cent.


Net revenue of the company declined moderately by 19.04 per cent at Rs 487.19 crore in July-September quarter of this fiscal as against Rs 601.77 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 15.80 per cent to Rs 397.42 crore from Rs 472.01 crore in year ago period.


Other Income dipped by 21.88 per cent at Rs 1.75 crore versus (Sep`18 Rs 2.24 crore).


Operating Profit slipped by 30.82 per cent to Rs 89.77 crore as against Rs 129.76 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 14.52 per cent in September quarter.


Interest declined by 21.29 per cent y-o-y to Rs 13.79 crore while Taxation decreased by 40.67 per cent at Rs 18.98 crore (Sep`18 Rs 31.99 crore).