Venus Remedies L Q1 net profit down 23.99% at Rs 11.09 cr
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The company reported standalone net profit of Rs 11.09 crore for the quarter ended June 30, 2022 as compared to Rs 14.59 crore in the same period last year, registering a year-on-year decline of 23.99 per cent. Net revenue of the company rose moderately by 13.21 per cent at Rs 154.93 crore in April-June quarter of this fiscal as against Rs 136.85 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 16.33 per cent to Rs 136.68 crore from Rs 117.49 crore in year ago period. Other Income dipped by 26.56 per cent at Rs 1.41 crore versus (Jun'21 Rs 1.92 crore). Operating Profit slipped by 5.73 per cent to Rs 18.25 crore as against Rs 19.36 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 16.75 per cent in June quarter. Taxation increased by 159.52 per cent at Rs 1.00 crore (Jun'21 Rs -1.68 crore).
