Steel Strips Wheels posts Q4 net profit of Rs 44.56 cr
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The company reported standalone net profit during the quarter stood at Rs 44.56 crore compared to net loss of Rs 5.25 crore in the previous year quarter. Net revenue of the company rose substantially by 80.81 per cent at Rs 699.87 crore in January-March quarter of this fiscal as against Rs 387.07 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 72.58 per cent to Rs 613.79 crore from Rs 355.65 crore in year ago period. Other Income dipped by 15.63 per cent at Rs 6.48 crore versus (Mar'20 Rs 7.68 crore).
Operating Profit surged by 173.97 per cent to Rs 86.08 crore as against Rs 31.42 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 51.48 per cent in March quarter. Interest declined by 13.10 per cent y-o-y to Rs 19.30 crore, while Taxation increased by 140.30 per cent at Rs 9.54 crore (Mar'20 Rs 3.97 crore).
