India Cements Lt posts Q3 net profit of Rs 62.02 cr
The company reported standalone net profit during the quarter stood at Rs 62.02 crore compared to net loss of Rs 5.37 crore in the previous year quarter. Net revenue of the company declined marginally by 2.59 per cent at Rs 1,160.30 crore in October-December quarter of this fiscal as against Rs 1,191.12 crore in the corresponding period last year. During October-December quarter, operating expenses dropped by 11.05 per cent to Rs 945.10 crore from Rs 1,062.46 crore in year ago period. Other Income dipped by 20.91 per cent at Rs 2.61 crore versus (Dec'19 Rs 3.30 crore).
Operating Profit surged by 67.26 per cent to Rs 215.20 crore as against Rs 128.66 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 71.76 per cent in December quarter. Interest declined by 14.99 per cent y-o-y to Rs 68.50 crore, while Taxation increased by 664.84 per cent at Rs 26.83 crore (Dec'19 Rs -4.75 crore).
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