Published on 14/08/2020 5:23:48 PM | Source: Dion Global Solutions Ltd

HG Infra Engineering Q1 net profit down 56.13% at Rs 15.09 cr

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The company reported standalone net profit of Rs 15.09 crore for the quarter ended June 30, 2020 as compared to Rs 34.40 crore in the same period last year, registering a year-on-year decline of 56.13 per cent. Net revenue of the company declined substantially by 43.37 per cent at Rs 297.93 crore in April-June quarter of this fiscal as against Rs 526.11 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 44.29 per cent to Rs 248.80 crore from Rs 446.60 crore in year ago period. Other Income dipped by 13.11 per cent at Rs 2.65 crore versus (Jun'19 Rs 3.05 crore).

Operating Profit slipped by 38.22 per cent to Rs 49.13 crore as against Rs 79.52 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 9.13 per cent in June quarter. Interest declined by 0.73 per cent y-o-y to Rs 12.18 crore, while Taxation decreased by 72.39 per cent at Rs 5.05 crore (Jun'19 Rs 18.29 crore).