Agarwal Industrial Corporation Q1 net profit jumps 72.01% at Rs 12.35 cr
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The company reported standalone net profit of Rs 12.35 crore for the quarter ended June 30, 2022 as compared to Rs 7.18 crore in the same period last year, registering a year-on-year growth of 72.01 per cent. Net revenue of the company rose substantially by 42.88 per cent at Rs 520.48 crore in April-June quarter of this fiscal as against Rs 364.29 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 43.01 per cent to Rs 501.58 crore from Rs 350.73 crore in year ago period.
Other Income grew by 42.26 per cent at Rs 3.77 crore versus (Jun'21 Rs 2.65 crore). Operating Profit surged by 39.38 per cent to Rs 18.90 crore as against Rs 13.56 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2.42 per cent in June quarter. Interest declined by 8.53 per cent y-o-y to Rs 2.68 crore, while Taxation increased by 69.06 per cent at Rs 4.48 crore (Jun'21 Rs 2.65 crore).
