Published on 21/11/2020 12:30:12 PM | Source: Reuters

Milk Food Q2 net profit down 72.17% at Rs 1.28 cr

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The company reported standalone net profit of Rs 1.28 crore for the quarter ended September 30, 2020 as compared to Rs 4.60 crore in the same period last year, registering a year-on-year decline of 72.17 per cent.

Net revenue of the company declined substantially by 45.08 per cent at Rs 76.31 crore in July-September quarter of this fiscal as against Rs 138.96 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 45.71 per cent to Rs 70.36 crore from Rs 129.61 crore in year ago period. Other Income grew by 700.00 per cent at Rs 0.

16 crore versus (Sep'19 Rs 0.02 crore). Operating Profit slipped by 36.36 per cent to Rs 5.95 crore as against Rs 9.35 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 15.90 per cent in September quarter. Interest grew by 20.33 per cent y-o-y to Rs 2.19 crore, while Taxation decreased by 63.72 per cent at Rs 0.41 crore