Parag Milk Foods Q1 net profit down 35.52% at Rs 11.02 cr
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The company reported standalone net profit of Rs 11.02 crore for the quarter ended June 30, 2022 as compared to Rs 17.09 crore in the same period last year, registering a year-on-year decline of 35.52 per cent. Net revenue of the company rose substantially by 59.96 per cent at Rs 680.80 crore in April-June quarter of this fiscal as against Rs 425.60 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 72.29 per cent to Rs 654.15 crore from Rs 379.67 crore in year ago period. Other Income grew by 1149.54 per cent at Rs 13.62 crore versus (Jun'21 Rs 1.09 crore). Operating Profit slipped by 41.98 per cent to Rs 26.65 crore as against Rs 45.93 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 63.76 per cent in June quarter. Interest grew by 21.51 per cent y-o-y to Rs 13.16 crore, while Taxation decreased by 46.72 per cent at Rs 3.49 crore (Jun'21 Rs 6.55 crore).
