Published on 26/06/2020 10:59:59 AM | Source: Dion Global Solutions Ltd

Ion Exchange (India) Q4 net profit down 6.29% at Rs 28.89 cr

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The company reported standalone net profit of Rs 28.89 crore for the quarter ended March 31, 2020 as compared to Rs 30.83 crore in the same period last year, registering a year-on-year decline of 6.29 per cent. Net revenue of the company declined substantially by 21.59 per cent at Rs 327.86 crore in January-March quarter of this fiscal as against Rs 418.12 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 19.73 per cent to Rs 295.17 crore from Rs 367.70 crore in year ago period. Other Income grew by 222.66 per cent at Rs 15.52 crore versus (Mar'19 Rs 4.81 crore).

Operating Profit slipped by 35.16 per cent to Rs 32.69 crore as against Rs 50.42 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 17.33 per cent in March quarter. Interest declined by 23.70 per cent y-o-y to Rs 3.22 crore, while Taxation decreased by 34.97 per cent at Rs 10.04 crore (Mar'19 Rs 15.44 crore).