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Published on 4/12/2018 1:05:30 PM | Source: Dion Global Solutions Ltd

The New India Assur Q2 net profit down 56.08% at Rs 328.64 cr

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The company reported standalone net profit of Rs 328.64 crore for the quarter ended September 30, 2018 as compared to Rs 748.27 crore in the same period last year, registering a year-on-year decline of 56.08 per cent. Net revenue of the company declined by 5.63 per cent at Rs 373.58 crore in July-September quarter of this fiscal as against Rs 395.88 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 198.99 per cent to Rs 4.88 crore from Rs -4.93 crore in year ago period. Other Income grew by 16.98 per cent at Rs 3.79 crore versus (Sep'17 Rs 3.24 crore). Operating Profit slipped by 59.22 per cent to Rs 368.70 crore as against Rs 904.13 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 56.79 per cent in September quarter. Taxation decreased by 72.44 per cent at Rs 43.85 crore (Sep'17 Rs 159.10 crore).