27 May 2019 | 12:27 AM

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COMPANYNEWS
Tata Sponge Iron Q4 net profit down 47.82% at Rs 24.37 cr
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Published on 04-18-2019
The company reported standalone net profit of Rs 24.37 crore for the quarter ended March 31 2019 as compared to Rs 46.70 crore in the same period last year registering a year-on-year decline of 47.82 per cent.


Net revenue of the company rose marginally by 4.34 per cent at Rs 254.07 crore in January-March quarter of this fiscal as against Rs 243.50 crore in the corresponding period last year.


During January-March quarter operating expenses increased by 26.33 per cent to Rs 229.79 crore from Rs 181.89 crore in year ago period.


Other Income grew by 28.30 per cent at Rs 14.96 crore versus (Mar`18 Rs 11.66 crore).


Operating Profit slipped by 60.59 per cent to Rs 24.28 crore as against Rs 61.61 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 62.21 per cent in March quarter.


Interest declined by 9.09 per cent y-o-y to Rs 0.30 crore while Taxation decreased by 49.89 per cent at Rs 11.66 crore (Mar`18 Rs 23.27 crore).