Published on 8/08/2019 9:53:12 AM | Source: Dion Global Solutions Ltd

Sundaram Fasten. Q1 net profit down 12.31% at Rs 93.11 cr

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The company reported standalone net profit of Rs 93.11 crore for the quarter ended June 30, 2019 as compared to Rs 106.18 crore in the same period last year, registering a year-on-year decline of 12.31 per cent. Net revenue of the company declined marginally by 3.54 per cent at Rs 905.58 crore in April-June quarter of this fiscal as against Rs 938.79 crore in the corresponding period last year. During April-June quarter, operating expenses dropped by 3.12 per cent to Rs 769.59 crore from Rs 794.38 crore in year ago period.

Other Income dipped by 92.88 per cent at Rs 1.09 crore versus (Jun'18 Rs 15.31 crore). Operating Profit slipped by 0.47 per cent to Rs 175.76 crore as against Rs 176.59 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 3.19 per cent in June quarter. Interest declined by 24.53 per cent y-o-y to Rs 9.60 crore, while Taxation decreased by 12.31 per cent at Rs 41.44 crore (Jun'18 Rs 47.26 crore).