15 Dec 2019 | 3:38 AM

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COMPANYNEWS
Scan Steels Q1 net profit down 92.71% at Rs 0.45 cr
  Scan Steels Ltd. | 13 Dec 2019 | 04:01 PM
Published on 08-15-2019
The company reported standalone net profit of Rs 0.45 crore for the quarter ended June 30 2019 as compared to Rs 6.17 crore in the same period last year registering a year-on-year decline of 92.71 per cent.


Net revenue of the company rose by 0.29 per cent at Rs 181.13 crore in April-June quarter of this fiscal as against Rs 180.60 crore in the corresponding period last year.


During April-June quarter operating expenses dropped by 1.01 per cent to Rs 173.55 crore from Rs 175.32 crore in year ago period.


Other Income grew by 255.56 per cent at Rs 1.28 crore versus (Jun`18 Rs 0.36 crore).


Operating Profit slipped by 48.04 per cent to Rs 7.57 crore as against Rs 14.57 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 48.20 per cent in June quarter.


Interest declined by 30.56 per cent y-o-y to Rs 3.75 crore while Taxation increased by 533.33 per cent at Rs 1.52 crore (Jun`18 Rs 0.24 crore).