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Published on 12/08/2020 2:47:10 PM | Source: Dion Global Solutions Ltd

ISGEC Heavy Eng Q1 net profit down 11.46% at Rs 29.06 cr

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The company reported standalone net profit of Rs 29.06 crore for the quarter ended June 30, 2020 as compared to Rs 32.82 crore in the same period last year, registering a year-on-year decline of 11.46 per cent. Net revenue of the company declined substantially by 24.03 per cent at Rs 765.15 crore in April-June quarter of this fiscal as against Rs 1,007.23 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 24.97 per cent to Rs 705.12 crore from Rs 939.81 crore in year ago period. Other Income dipped by 59.41 per cent at Rs 1.64 crore versus (Jun'19 Rs 4.04 crore). Operating Profit slipped by 10.96 per cent to Rs 60.03 crore as against Rs 67.42 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 17.34 per cent in June quarter. Interest grew by 84.75 per cent y-o-y to Rs 5.45 crore, while Taxation decreased by 46.57 per cent at Rs 9.57 crore (Jun'19 Rs 17.91 crore).