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News Details

Manaksia Steels Q1 net profit down 19.69% at Rs 1.02 cr

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10/09/2020 17:40
The company reported standalone net profit of Rs 1.02 crore for the quarter ended June 30, 2020 as compared to Rs 1.27 crore in the same period last year, registering a year-on-year decline of 19.69 per cent.

Net revenue of the company declined substantially by 45.02 per cent at Rs 70.24 crore in April-June quarter of this fiscal as against Rs 127.76 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 44.62 per cent to Rs 68.66 crore from Rs 123.99 crore in year ago period.

Other Income grew by 4150.00 per cent at Rs 1.70 crore versus (Jun'19 Rs 0.04 crore).

Operating Profit slipped by 58.09 per cent to Rs 1.58 crore as against Rs 3.77 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 23.73 per cent in June quarter.

Interest grew by 16.67 per cent y-o-y to Rs 0.49 crore, while Taxation decreased by 52.00 per cent at Rs 0.36 crore (Jun'19 Rs 0.75 crore).