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( 07 Nov 2019)
Tips Industries Q2 net profit zooms 455.32% at Rs 2.61 cr

The company reported standalone net profit of Rs 2.61 crore for the quarter ended September 30, 2019 as compared to Rs 0.47 crore in the same period last year, registering a year-on-year growth of 455.32 per cent.

Net revenue of the company declined substantially by 24.00 per cent at Rs 11.75 crore in July-September quarter of this fiscal as against Rs 15.46 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 132.85 per cent to Rs 23.89 crore from Rs 10.26 crore in year ago period.

Other Income grew by 5150.00 per cent at Rs 15.75 crore versus (Sep'18 Rs 0.30 crore).

Operating Profit slipped by 333.46 per cent to Rs -12.14 crore as against Rs 5.20 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 407.25 per cent in September quarter.

Interest declined by 66.67 per cent y-o-y to Rs 0.14 crore, while Taxation increased by 113.33 per cent at Rs 0.32 crore (Sep'18 Rs 0.15 crore).