03 Dec 2020 | 4:22 PM


I P Rings Q2 net profit down 91.26% at Rs 0.16 cr
  I P Rings Ltd. | 17 Jan 2020 | 10:51 AM
Published on 11-07-2019
The company reported standalone net profit of Rs 0.16 crore for the quarter ended September 30 2019 as compared to Rs 1.83 crore in the same period last year registering a year-on-year decline of 91.26 per cent.

Net revenue of the company declined marginally by 3.35 per cent at Rs 51.58 crore in July-September quarter of this fiscal as against Rs 53.37 crore in the corresponding period last year.

During July-September quarter operating expenses increased by 0.88 per cent to Rs 47.01 crore from Rs 46.60 crore in year ago period.

Other Income dipped by 42.11 per cent at Rs 0.11 crore versus (Sep`18 Rs 0.19 crore).

Operating Profit slipped by 32.50 per cent to Rs 4.57 crore as against Rs 6.77 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 30.13 per cent in September quarter.

Interest declined by 10.05 per cent y-o-y to Rs 1.70 crore while Taxation decreased by 105.95 per cent at Rs -0.05 crore (Sep`18 Rs 0.84 crore).