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(01/08/2020 18:00)

Mold-Tek Packaging Q1 net profit down 85.54% at Rs 1.57 cr

The company reported standalone net profit of Rs 1.57 crore for the quarter ended June 30, 2020 as compared to Rs 10.86 crore in the same period last year, registering a year-on-year decline of 85.54 per cent.

Net revenue of the company declined substantially by 43.65 per cent at Rs 65.30 crore in April-June quarter of this fiscal as against Rs 115.89 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 41.18 per cent to Rs 56.20 crore from Rs 95.55 crore in year ago period.

Other Income dipped by 84.62 per cent at Rs 0.14 crore versus (Jun'19 Rs 0.91 crore).

Operating Profit slipped by 55.26 per cent to Rs 9.10 crore as against Rs 20.34 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 20.57 per cent in June quarter.

Interest declined by 6.69 per cent y-o-y to Rs 2.23 crore, while Taxation decreased by 83.33 per cent at Rs 0.58 crore (Jun'19 Rs 3.48 crore).