Published on 14/02/2018 3:36:03 PM | Source: Dion Global Solutions Ltd

ISGEC Heavy Eng Q3 net profit down 37.13% at Rs 29.44 cr

The company reported standalone net profit of Rs 29.44 crore for the quarter ended December 31, 2017 as compared to Rs 46.83 crore in the same period last year, registering a year-on-year decline of 37.13 per cent. Net revenue of the company declined moderately by 7.25 per cent at Rs 662.81 crore in October-December quarter of this fiscal as against Rs 714.64 crore in the corresponding period last year. During October-December quarter, operating expenses dropped by 9.43 per cent to Rs 608.86 crore from Rs 672.27 crore in year ago period.

Other Income dipped by 59.56 per cent at Rs 7.53 crore versus (Dec'16 Rs 18.62 crore). Operating Profit slipped by 25.07 per cent to Rs 53.95 crore as against Rs 72.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 19.25 per cent in December quarter. Interest declined by 58.27 per cent y-o-y to Rs 1.64 crore, while Taxation decreased by 39.52 per cent at Rs 14.37 crore (Dec'16 Rs 23.76 crore).