IFGL Refractories Q1 net profit down 10.68% at Rs 11.96 cr
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The company reported standalone net profit of Rs 11.96 crore for the quarter ended June 30, 2022 as compared to Rs 13.39 crore in the same period last year, registering a year-on-year decline of 10.68 per cent. Net revenue of the company rose substantially by 40.50 per cent at Rs 225.39 crore in April-June quarter of this fiscal as against Rs 160.42 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 45.57 per cent to Rs 197.20 crore from Rs 135.47 crore in year ago period. Other Income dipped by 87.55 per cent at Rs 0.34 crore versus (Jun'21 Rs 2.73 crore). Operating Profit surged by 12.99 per cent to Rs 28.19 crore as against Rs 24.95 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 19.55 per cent in June quarter. Interest grew by 59.42 per cent y-o-y to Rs 1.10 crore, while Taxation increased by 21.45 per cent at Rs 5.04 crore (Jun'21 Rs 4.15 crore).
