20 Jul 2019 | 7:23 AM

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COMPANYNEWS
NRB Bearings Lim Q4 net profit down 56.22% at Rs 11.73 cr
  NRB Bearings Ltd. | 19 Jul 2019 | 04:01 PM
Published on 05-30-2019
The company reported standalone net profit of Rs 11.73 crore for the quarter ended March 31 2019 as compared to Rs 26.79 crore in the same period last year registering a year-on-year decline of 56.22 per cent.


Net revenue of the company declined moderately by 9.62 per cent at Rs 212.69 crore in January-March quarter of this fiscal as against Rs 235.33 crore in the corresponding period last year.


During January-March quarter operating expenses dropped by 3.41 per cent to Rs 186.59 crore from Rs 193.17 crore in year ago period.


Other Income dipped by 95.87 per cent at Rs 0.32 crore versus (Mar`18 Rs 7.74 crore).


Operating Profit slipped by 38.09 per cent to Rs 26.10 crore as against Rs 42.16 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 31.53 per cent in March quarter.


Interest grew by 24.70 per cent y-o-y to Rs 4.19 crore while Taxation decreased by 78.58 per cent at Rs 2.66 crore (Mar`18 Rs 12.42 crore).