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( 02 Aug 2019)
Ginni Filaments Q1 net profit down 89.26% at Rs 0.16 cr

The company reported standalone net profit of Rs 0.16 crore for the quarter ended June 30, 2019 as compared to Rs 1.49 crore in the same period last year, registering a year-on-year decline of 89.26 per cent.

Net revenue of the company declined marginally by 2.30 per cent at Rs 195.22 crore in April-June quarter of this fiscal as against Rs 199.81 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 1.14 per cent to Rs 180.45 crore from Rs 182.54 crore in year ago period.

Other Income dipped by 52.38 per cent at Rs 0.70 crore versus (Jun'18 Rs 1.47 crore).

Operating Profit slipped by 14.48 per cent to Rs 14.77 crore as against Rs 17.27 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 12.38 per cent in June quarter.

Interest declined by 11.55 per cent y-o-y to Rs 8.35 crore, while Taxation decreased by 91.72 per cent at Rs 0.12 crore (Jun'18 Rs 1.45 crore).