Huhtamaki India Q1 net profit down 40.79% at Rs 16.17 cr
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The company reported standalone net profit of Rs 16.17 crore for the quarter ended March 31, 2021 as compared to Rs 27.31 crore in the same period last year, registering a year-on-year decline of 40.79 per cent. Net revenue of the company rose moderately by 11.43 per cent at Rs 632.34 crore in January-March quarter of this fiscal as against Rs 567.49 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 13.20 per cent to Rs 590.04 crore from Rs 521.22 crore in year ago period. Other Income grew by 218.95 per cent at Rs 6.06 crore versus (Mar'20 Rs 1.90 crore). Operating Profit slipped by 20.70 per cent to Rs 42.30 crore as against Rs 53.34 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 28.83 per cent in March quarter. Interest declined by 12.00 per cent y-o-y to Rs 5.50 crore, while Taxation increased by 217.89 per cent at Rs 3.69 crore (Mar'20 Rs -3.13 crore).
