Published on 13/08/2019 4:52:19 PM | Source: Dion Global Solutions Ltd

Kaveri Seed Company Q1 net profit up 8.71% at Rs 228.93 cr

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The company reported standalone net profit of Rs 228.93 crore for the quarter ended June 30, 2019 as compared to Rs 210.58 crore in the same period last year, registering a year-on-year growth of 8.71 per cent. Net revenue of the company rose moderately by 12.65 per cent at Rs 655.47 crore in April-June quarter of this fiscal as against Rs 581.89 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 11.58 per cent to Rs 422.19 crore from Rs 378.38 crore in year ago period.

Other Income dipped by 74.27 per cent at Rs 4.33 crore versus (Jun'18 Rs 16.83 crore). Operating Profit surged by 14.63 per cent to Rs 233.28 crore as against Rs 203.51 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 1.77 per cent in June quarter. Interest grew by 0.00 per cent y-o-y to Rs 0.02 crore, while Taxation decreased by 36.36 per cent at Rs 2.80 crore (Jun'18 Rs 4.40 crore).