24 Jul 2019 | 4:19 AM

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Acknit Industries Lt Q3 net profit down 35.19% at Rs 0.70 cr
  Acknit Industries Ltd. | 23 Jul 2019 | 04:01 PM
Published on 02-15-2018
The company reported standalone net profit of Rs 0.70 crore for the quarter ended December 31 2017 as compared to Rs 1.08 crore in the same period last year registering a year-on-year decline of 35.19 per cent.


Net revenue of the company declined by 0.86 per cent at Rs 35.60 crore in October-December quarter of this fiscal as against Rs 35.91 crore in the corresponding period last year.


During October-December quarter operating expenses dropped by 2.90 per cent to Rs 35.18 crore from Rs 36.23 crore in year ago period.


Other Income dipped by 23.64 per cent at Rs 0.84 crore versus (Dec'16 Rs 1.10 crore).


Operating Profit slipped by 21.57 per cent to Rs 2.00 crore as against Rs 2.55 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 21.10 per cent in December quarter.


Interest declined by 14.67 per cent y-o-y to Rs 1.28 crore while Taxation decreased by 45.61 per cent at Rs 0.31 crore (Dec'16 Rs 0.57 crore).