06 Dec 2019 | 2:23 PM

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COMPANYNEWS
McLeod Russel Q2 net profit down 65.01% at Rs 90.60 cr
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Published on 11-15-2019
The company reported standalone net profit of Rs 90.60 crore for the quarter ended September 30 2019 as compared to Rs 258.94 crore in the same period last year registering a year-on-year decline of 65.01 per cent.


Net revenue of the company declined substantially by 39.74 per cent at Rs 268.80 crore in July-September quarter of this fiscal as against Rs 446.06 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 45.89 per cent to Rs 143.29 crore from Rs 264.82 crore in year ago period.


Other Income dipped by 56.97 per cent at Rs 32.57 crore versus (Sep`18 Rs 75.69 crore).


Operating Profit slipped by 30.75 per cent to Rs 125.51 crore as against Rs 181.24 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 14.92 per cent in September quarter.


Interest grew by 6.45 per cent y-o-y to Rs 52.96 crore while Taxation decreased by 57.58 per cent at Rs 33.05 crore (Sep`18 Rs 77.92 crore).