Sutlej Textiles & Industries Ltd Q3 net profit down 28.80% at Rs 13.92 cr
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The company reported standalone net profit of Rs 13.92 crore for the quarter ended December 31, 2020 as compared to Rs 19.55 crore in the same period last year, registering a year-on-year decline of 28.80 per cent. Net revenue of the company declined by 5.42 per cent at Rs 541.76 crore in October-December quarter of this fiscal as against Rs 572.83 crore in the corresponding period last year. During October-December quarter, operating expenses dropped by 3.46 per cent to Rs 495.66 crore from Rs 513.42 crore in year ago period. Other Income grew by 64.38 per cent at Rs 7.20 crore versus (Dec'19 Rs 4.38 crore).
Operating Profit slipped by 22.40 per cent to Rs 46.10 crore as against Rs 59.41 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 17.94 per cent in December quarter. Interest declined by 27.89 per cent y-o-y to Rs 7.11 crore, while Taxation decreased by 29.89 per cent at Rs 6.66 crore (Dec'19 Rs 9.50 crore).
