Rane (Madras) Q1 net profit zooms 439.25% at Rs 20.06 cr
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The company reported standalone net profit of Rs 20.06 crore for the quarter ended June 30, 2022 as compared to Rs 3.72 crore in the same period last year, registering a year-on-year growth of 439.25 per cent. Net revenue of the company rose substantially by 66.71 per cent at Rs 499.78 crore in April-June quarter of this fiscal as against Rs 299.79 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 60.06 per cent to Rs 452.99 crore from Rs 283.02 crore in year ago period.
Other Income dipped by 82.27 per cent at Rs 1.20 crore versus (Jun'21 Rs 6.77 crore). Operating Profit surged by 179.01 per cent to Rs 46.79 crore as against Rs 16.77 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 67.44 per cent in June quarter. Interest grew by 20.88 per cent y-o-y to Rs 4.92 crore, while Taxation increased by 453.33 per cent at Rs 6.64 crore (Jun'21 Rs 1.20 crore).
