Published on 28/05/2020 1:24:16 PM | Source: Dion Global Solutions Ltd

Tube Investments Q4 net profit up 33.56% at Rs 73.55 cr

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The company reported standalone net profit of Rs 73.55 crore for the quarter ended March 31, 2020 as compared to Rs 55.07 crore in the same period last year, registering a year-on-year growth of 33.56 per cent. Net revenue of the company declined substantially by 22.12 per cent at Rs 894.61 crore in January-March quarter of this fiscal as against Rs 1,148.74 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 27.50 per cent to Rs 801.95 crore from Rs 1,106.11 crore in year ago period. Other Income grew by 53.16 per cent at Rs 24.23 crore versus (Mar'19 Rs 15.82 crore).

Operating Profit surged by 12.96 per cent to Rs 132.64 crore as against Rs 117.42 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 45.11 per cent in March quarter. Interest declined by 54.71 per cent y-o-y to Rs 5.14 crore, while Taxation decreased by 60.06 per cent at Rs 12.32 crore (Mar'19 Rs 30.85 crore).