Tips Industries Q1 net profit up 17.83% at Rs 17.18 cr
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The company reported standalone net profit of Rs 17.18 crore for the quarter ended June 30, 2022 as compared to Rs 14.58 crore in the same period last year, registering a year-on-year growth of 17.83 per cent. Net revenue of the company rose substantially by 21.73 per cent at Rs 34.23 crore in April-June quarter of this fiscal as against Rs 28.12 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 24.66 per cent to Rs 11.78 crore from Rs 9.45 crore in year ago period. Other Income grew by 7.29 per cent at Rs 1.03 crore versus (Jun'21 Rs 0.96 crore). Operating Profit surged by 20.25 per cent to Rs 22.45 crore as against Rs 18.67 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1.21 per cent in June quarter. Interest grew by 0.00 per cent y-o-y to Rs 0.07 crore, while Taxation increased by 21.37 per cent at Rs 5.85 crore (Jun'21 Rs 4.82 crore).
