Steel Strips Wheels Q1 net profit down 5.78% at Rs 48.13 cr
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The company reported standalone net profit of Rs 48.13 crore for the quarter ended June 30, 2022 as compared to Rs 51.08 crore in the same period last year, registering a year-on-year decline of 5.78 per cent. Net revenue of the company rose substantially by 49.84 per cent at Rs 1,016.09 crore in April-June quarter of this fiscal as against Rs 678.13 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 56.24 per cent to Rs 906.78 crore from Rs 580.37 crore in year ago period.
Other Income dipped by 98.68 per cent at Rs 0.03 crore versus (Jun'21 Rs 2.27 crore). Operating Profit surged by 11.81 per cent to Rs 109.31 crore as against Rs 97.76 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 25.38 per cent in June quarter. Interest declined by 7.55 per cent y-o-y to Rs 18.24 crore, while Taxation increased by 96.48 per cent at Rs 22.91 crore (Jun'21 Rs 11.66 crore).
