M M Forgings Q4 net profit down 3.12% at Rs 29.20 cr
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The company reported standalone net profit of Rs 29.20 crore for the quarter ended March 31, 2022 as compared to Rs 30.14 crore in the same period last year, registering a year-on-year decline of 3.12 per cent. Net revenue of the company rose moderately by 10.04 per cent at Rs 313.56 crore in January-March quarter of this fiscal as against Rs 284.95 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 13.52 per cent to Rs 260.34 crore from Rs 229.34 crore in year ago period.
Other Income grew by 686.90 per cent at Rs 6.61 crore versus (Mar'21 Rs 0.84 crore). Operating Profit slipped by 8.43 per cent to Rs 53.22 crore as against Rs 58.12 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 16.81 per cent in March quarter. Interest declined by 23.32 per cent y-o-y to Rs 6.15 crore, while Taxation increased by 130.22 per cent at Rs 9.37 crore (Mar'21 Rs 4.07 crore).
