03 Dec 2020 | 5:18 PM

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COMPANYNEWS
I P Rings Q1 net profit down 10.76% at Rs 1.99 cr
  I P Rings Ltd. | 17 Jan 2020 | 10:51 AM
Published on 07-25-2019
The company reported standalone net profit of Rs 1.99 crore for the quarter ended June 30 2019 as compared to Rs 2.23 crore in the same period last year registering a year-on-year decline of 10.76 per cent.


Net revenue of the company rose moderately by 7.32 per cent at Rs 54.55 crore in April-June quarter of this fiscal as against Rs 50.83 crore in the corresponding period last year.


During April-June quarter operating expenses increased by 8.30 per cent to Rs 47.38 crore from Rs 43.75 crore in year ago period.


Other Income grew by 280.00 per cent at Rs 0.19 crore versus (Jun`18 Rs 0.05 crore).


Operating Profit surged by 1.13 per cent to Rs 7.16 crore as against Rs 7.08 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 5.74 per cent in June quarter.


Interest grew by 9.89 per cent y-o-y to Rs 2.00 crore while Taxation decreased by 10.00 per cent at Rs 0.72 crore (Jun`18 Rs 0.80 crore).