Published on 14/08/2020 1:58:50 PM | Source: Dion Global Solutions Ltd

Tourism Finance Q1 net profit down 27.74% at Rs 16.57 cr

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The company reported standalone net profit of Rs 16.57 crore for the quarter ended June 30, 2020 as compared to Rs 22.93 crore in the same period last year, registering a year-on-year decline of 27.74 per cent. Net revenue of the company rose by 0.70 per cent at Rs 63.08 crore in April-June quarter of this fiscal as against Rs 62.64 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 73.47 per cent to Rs 7.39 crore from Rs 4.26 crore in year ago period.

Operating Profit slipped by 4.59 per cent to Rs 55.70 crore as against Rs 58.38 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 5.28 per cent in June quarter. Interest grew by 18.09 per cent y-o-y to Rs 33.95 crore, while Taxation decreased by 26.32 per cent at Rs 4.90 crore (Jun'19 Rs 6.65 crore).