06 Dec 2019 | 2:36 PM

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COMPANYNEWS
Setco Automotive Q2 net profit down 55.91% at Rs 3.88 cr
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Published on 11-14-2019
The company reported standalone net profit of Rs 3.88 crore for the quarter ended September 30 2019 as compared to Rs 8.80 crore in the same period last year registering a year-on-year decline of 55.91 per cent.


Net revenue of the company declined substantially by 30.91 per cent at Rs 116.42 crore in July-September quarter of this fiscal as against Rs 168.50 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 30.57 per cent to Rs 100.49 crore from Rs 144.73 crore in year ago period.


Other Income dipped by 8.10 per cent at Rs 3.97 crore versus (Sep`18 Rs 4.32 crore).


Operating Profit slipped by 32.98 per cent to Rs 15.93 crore as against Rs 23.77 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 3.05 per cent in September quarter.


Interest grew by 8.33 per cent y-o-y to Rs 8.45 crore while Taxation decreased by 57.47 per cent at Rs 2.82 crore (Sep`18 Rs 6.63 crore).