13 Aug 2020 | 11:42 AM

News

COMPANYNEWS
Polyspin Exports Q2 net profit down 70.61% at Rs 1.34 cr
  Polyspin Exports Ltd. | 10 Jan 2020 | 03:41 PM
Published on 11-13-2019
The company reported standalone net profit of Rs 1.34 crore for the quarter ended September 30 2019 as compared to Rs 4.56 crore in the same period last year registering a year-on-year decline of 70.61 per cent.


Net revenue of the company declined substantially by 24.02 per cent at Rs 42.93 crore in July-September quarter of this fiscal as against Rs 56.50 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 18.95 per cent to Rs 39.82 crore from Rs 49.13 crore in year ago period.


Other Income grew by 21.82 per cent at Rs 0.67 crore versus (Sep`18 Rs 0.55 crore).


Operating Profit slipped by 57.67 per cent to Rs 3.12 crore as against Rs 7.37 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 44.33 per cent in September quarter.


Interest grew by 6.84 per cent y-o-y to Rs 1.25 crore while Taxation decreased by 79.86 per cent at Rs 0.29 crore (Sep`18 Rs 1.44 crore).