Finolex Industries Q4 net profit down 67.93% at Rs 158.35 cr
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The company reported standalone net profit of Rs 158.35 crore for the quarter ended March 31, 2023 as compared to Rs 493.80 crore in the same period last year, registering a year-on-year decline of 67.93 per cent. Net revenue of the company declined substantially by 28.44 per cent at Rs 1,141.06 crore in January-March quarter of this fiscal as against Rs 1,594.57 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 30.55 per cent to Rs 923.63 crore from Rs 1,329.91 crore in year ago period.
Other Income grew by 17.93 per cent at Rs 29.20 crore versus (Mar'22 Rs 24.76 crore). Operating Profit slipped by 17.85 per cent to Rs 217.43 crore as against Rs 264.66 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 14.82 per cent in March quarter. Interest declined by 19.85 per cent y-o-y to Rs 6.46 crore, while Taxation decreased by 59.16 per cent at Rs 58.02 crore (Mar'22 Rs 142.07 crore).
