24 Jul 2019 | 4:14 AM


Acknit Industries Lt Q3 net profit up 40.00% at Rs 0.98 cr
  Acknit Industries Ltd. | 23 Jul 2019 | 04:01 PM
Published on 02-12-2019
The company reported standalone net profit of Rs 0.98 crore for the quarter ended December 31 2018 as compared to Rs 0.70 crore in the same period last year registering a year-on-year growth of 40.00 per cent.

Net revenue of the company rose moderately by 12.89 per cent at Rs 40.19 crore in October-December quarter of this fiscal as against Rs 35.60 crore in the corresponding period last year.

During October-December quarter operating expenses increased by 21.49 per cent to Rs 42.74 crore from Rs 35.18 crore in year ago period.

Other Income grew by 285.71 per cent at Rs 3.24 crore versus (Dec`17 Rs 0.84 crore).

Operating Profit slipped by 112.50 per cent to Rs -0.25 crore as against Rs 2.00 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 111.05 per cent in December quarter.

Interest declined by 18.75 per cent y-o-y to Rs 1.04 crore while Taxation increased by 35.48 per cent at Rs 0.42 crore (Dec`17 Rs 0.31 crore).