17 Jan 2021 | 8:50 PM

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COMPANYNEWS
Sunflag Iron Q2 net profit down 42.64% at Rs 21.15 cr
  Sunflag Iron & Steel Company Ltd. | 17 Jan 2020 | 10:51 AM
Published on 11-12-2019
The company reported standalone net profit of Rs 21.15 crore for the quarter ended September 30 2019 as compared to Rs 36.87 crore in the same period last year registering a year-on-year decline of 42.64 per cent.


Net revenue of the company declined substantially by 23.61 per cent at Rs 466.93 crore in July-September quarter of this fiscal as against Rs 611.22 crore in the corresponding period last year.


During July-September quarter operating expenses dropped by 21.38 per cent to Rs 422.04 crore from Rs 536.81 crore in year ago period.


Other Income dipped by 2.10 per cent at Rs 2.80 crore versus (Sep`18 Rs 2.86 crore).


Operating Profit slipped by 39.67 per cent to Rs 44.89 crore as against Rs 74.41 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 21.04 per cent in September quarter.


Interest declined by 7.01 per cent y-o-y to Rs 9.68 crore while Taxation decreased by 66.89 per cent at Rs 6.82 crore (Sep`18 Rs 20.60 crore).