Axtel Industries Q1 net profit down 64.85% at Rs 0.71 cr
05/08/2019 16:40
The company reported standalone net profit of Rs 0.71 crore for the quarter ended June 30, 2019 as compared to Rs 2.02 crore in the same period last year, registering a year-on-year decline of 64.85 per cent.

Net revenue of the company declined moderately by 16.57 per cent at Rs 17.83 crore in April-June quarter of this fiscal as against Rs 21.37 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 12.25 per cent to Rs 16.55 crore from Rs 18.86 crore in year ago period.

Other Income grew by 70.83 per cent at Rs 0.41 crore versus (Jun'18 Rs 0.24 crore).

Operating Profit slipped by 49.00 per cent to Rs 1.28 crore as against Rs 2.51 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 38.78 per cent in June quarter.

Interest grew by 42.86 per cent y-o-y to Rs 0.10 crore, while Taxation increased by 0.00 per cent at Rs 0.29 crore (Jun'18 Rs 0.00 crore).