23 Jan 2020 | 7:54 PM

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COMPANYNEWS
Mohite Industries Q2 net profit down 55.71% at Rs 0.31 cr
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Published on 12-05-2019
The company reported standalone net profit of Rs 0.31 crore for the quarter ended September 30 2019 as compared to Rs 0.70 crore in the same period last year registering a year-on-year decline of 55.71 per cent.


Net revenue of the company declined moderately by 7.90 per cent at Rs 29.13 crore in July-September quarter of this fiscal as against Rs 31.63 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 7.50 per cent to Rs 24.90 crore from Rs 26.92 crore in year ago period.


Operating Profit slipped by 10.00 per cent to Rs 4.23 crore as against Rs 4.70 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 2.42 per cent in September quarter.


Interest declined by 1.40 per cent y-o-y to Rs 2.11 crore