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Published on 20/08/2020 9:57:35 AM | Source: Dion Global Solutions Ltd

Ashapura Minechem Ltd Q1 net profit zooms 702.61% at Rs 9.23 cr

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The company reported standalone net profit of Rs 9.23 crore for the quarter ended June 30, 2020 as compared to Rs 1.15 crore in the same period last year, registering a year-on-year growth of 702.61 per cent. Net revenue of the company declined substantially by 59.54 per cent at Rs 32.07 crore in April-June quarter of this fiscal as against Rs 79.26 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 53.12 per cent to Rs 34.29 crore from Rs 73.15 crore in year ago period. Other Income grew by 55.73 per cent at Rs 2.99 crore versus (Jun'19 Rs 1.92 crore).

Operating Profit slipped by 136.27 per cent to Rs -2.22 crore as against Rs 6.12 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 189.64 per cent in June quarter. Interest grew by 270.70 per cent y-o-y to Rs 5.82 crore