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Published on 14/08/2020 1:54:20 PM | Source: Dion Global Solutions Ltd

Nesco Q1 net profit up 35.77% at Rs 51.36 cr

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The company reported standalone net profit of Rs 51.36 crore for the quarter ended June 30, 2020 as compared to Rs 37.83 crore in the same period last year, registering a year-on-year growth of 35.77 per cent. Net revenue of the company declined moderately by 11.40 per cent at Rs 69.34 crore in April-June quarter of this fiscal as against Rs 78.26 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 33.62 per cent to Rs 19.61 crore from Rs 29.54 crore in year ago period. Other Income grew by 1620.31 per cent at Rs 22.02 crore versus (Jun'19 Rs 1.28 crore).

Operating Profit surged by 2.07 per cent to Rs 49.73 crore as against Rs 48.72 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 15.19 per cent in June quarter. Interest grew by 31.19 per cent y-o-y to Rs 1.43 crore, while Taxation increased by 55.57 per cent at Rs 12.43 crore (Jun'19 Rs 7.99 crore).