15 Aug 2020 | 1:40 AM

News

COMPANYNEWS
Polyspin Exports posts Q1 net profit of Rs 0.66 cr
  Polyspin Exports Ltd. | 10 Jan 2020 | 03:41 PM
Published on 08-12-2019
The company reported standalone net profit during the quarter stood at Rs 0.66 crore compared to net loss of Rs 1.56 crore in the previous year quarter.


Net revenue of the company declined moderately by 13.97 per cent at Rs 42.94 crore in April-June quarter of this fiscal as against Rs 49.91 crore in the corresponding period last year.


During April-June quarter operating expenses dropped by 20.84 per cent to Rs 40.10 crore from Rs 50.66 crore in year ago period.


Other Income dipped by 90.29 per cent at Rs 0.10 crore versus (Jun`18 Rs 1.03 crore).


Operating Profit surged by 477.33 per cent to Rs 2.83 crore as against Rs -0.75 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 540.00 per cent in June quarter.


Interest grew by 1.89 per cent y-o-y to Rs 1.08 crore while Taxation increased by 825.00 per cent at Rs 0.37 crore (Jun`18 Rs 0.04 crore).