Apollo TriCoat Tubes Q1 net profit down 35.07% at Rs 30.70 cr
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The company reported standalone net profit of Rs 30.70 crore for the quarter ended June 30, 2022 as compared to Rs 47.28 crore in the same period last year, registering a year-on-year decline of 35.07 per cent. Net revenue of the company rose substantially by 37.87 per cent at Rs 775.79 crore in April-June quarter of this fiscal as against Rs 562.69 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 46.14 per cent to Rs 748.42 crore from Rs 512.11 crore in year ago period. Other Income dipped by 86.91 per cent at Rs 2.48 crore versus (Jun'21 Rs 18.95 crore). Operating Profit slipped by 10.74 per cent to Rs 45.15 crore as against Rs 50.58 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 35.26 per cent in June quarter. Interest declined by 41.76 per cent y-o-y to Rs 0.99 crore, while Taxation decreased by 34.60 per cent at Rs 10.51 crore (Jun'21 Rs 16.07 crore).
