06 Dec 2019 | 2:24 PM

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COMPANYNEWS
Salona Cotspin L Q2 net profit down 87.25% at Rs 0.13 cr
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Published on 11-19-2019
The company reported standalone net profit of Rs 0.13 crore for the quarter ended September 30 2019 as compared to Rs 1.02 crore in the same period last year registering a year-on-year decline of 87.25 per cent.

Net revenue of the company declined substantially by 22.85 per cent at Rs 29.10 crore in July-September quarter of this fiscal as against Rs 37.72 crore in the corresponding period last year.

During July-September quarter operating expenses dropped by 19.92 per cent to Rs 27.06 crore from Rs 33.79 crore in year ago period.



Operating Profit slipped by 48.09 per cent to Rs 2.04 crore as against Rs 3.93 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 32.63 per cent in September quarter.

Interest grew by 23.60 per cent y-o-y to Rs 1.10 crore while Taxation decreased by 88.00 per cent at Rs 0.03 crore (Sep`18 Rs 0.25 crore).