06 Dec 2019 | 2:22 PM

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COMPANYNEWS
Igarashi Motors Indi Q2 net profit down 44.73% at Rs 8.08 cr
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Published on 11-15-2019
The company reported standalone net profit of Rs 8.08 crore for the quarter ended September 30 2019 as compared to Rs 14.62 crore in the same period last year registering a year-on-year decline of 44.73 per cent.


Net revenue of the company rose moderately by 10.08 per cent at Rs 138.20 crore in July-September quarter of this fiscal as against Rs 125.55 crore in the corresponding period last year.


During July-September quarter operating expenses increased by 13.99 per cent to Rs 114.23 crore from Rs 100.21 crore in year ago period.


Other Income dipped by 56.05 per cent at Rs 2.47 crore versus (Sep`18 Rs 5.62 crore).


Operating Profit slipped by 5.45 per cent to Rs 23.96 crore as against Rs 25.34 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 14.12 per cent in September quarter.


Interest grew by 60.29 per cent y-o-y to Rs 3.35 crore while Taxation decreased by 40.64 per cent at Rs 4.28 crore (Sep`18 Rs 7.21 crore).