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(01/08/2020 18:00)

Vinati Organics Q1 net profit down 12.21% at Rs 72.30 cr

The company reported standalone net profit of Rs 72.30 crore for the quarter ended June 30, 2020 as compared to Rs 82.36 crore in the same period last year, registering a year-on-year decline of 12.21 per cent.

Net revenue of the company declined substantially by 20.35 per cent at Rs 231.57 crore in April-June quarter of this fiscal as against Rs 290.74 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 21.21 per cent to Rs 134.39 crore from Rs 170.57 crore in year ago period.

Other Income dipped by 24.69 per cent at Rs 8.60 crore versus (Jun'19 Rs 11.42 crore).

Operating Profit slipped by 19.13 per cent to Rs 97.18 crore as against Rs 120.17 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 1.55 per cent in June quarter.

Interest declined by 86.67 per cent y-o-y to Rs 0.04 crore, while Taxation decreased by 45.67 per cent at Rs 22.79 crore (Jun'19 Rs 41.95 crore).