GRM Overseas Q1 net profit up 1.59% at Rs 17.87 cr
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The company reported standalone net profit of Rs 17.87 crore for the quarter ended June 30, 2022 as compared to Rs 17.59 crore in the same period last year, registering a year-on-year growth of 1.59 per cent. Net revenue of the company rose substantially by 46.41 per cent at Rs 313.28 crore in April-June quarter of this fiscal as against Rs 213.97 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 51.62 per cent to Rs 284.28 crore from Rs 187.49 crore in year ago period. Other Income dipped by 40.86 per cent at Rs 0.55 crore versus (Jun'21 Rs 0.93 crore). Operating Profit surged by 9.56 per cent to Rs 29.00 crore as against Rs 26.47 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 25.14 per cent in June quarter. Interest grew by 47.96 per cent y-o-y to Rs 4.72 crore, while Taxation increased by 4.40 per cent at Rs 6.17 crore (Jun'21 Rs 5.91 crore).
