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( 12 Nov 2019)
Virinchi L Q2 net profit down 19.10% at Rs 5.04 cr

The company reported standalone net profit of Rs 5.04 crore for the quarter ended September 30, 2019 as compared to Rs 6.23 crore in the same period last year, registering a year-on-year decline of 19.10 per cent.

Net revenue of the company declined substantially by 29.27 per cent at Rs 36.08 crore in July-September quarter of this fiscal as against Rs 51.01 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 30.31 per cent to Rs 23.91 crore from Rs 34.31 crore in year ago period.

Other Income dipped by 65.85 per cent at Rs 0.42 crore versus (Sep'18 Rs 1.23 crore).

Operating Profit slipped by 27.13 per cent to Rs 12.17 crore as against Rs 16.70 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 3.05 per cent in September quarter.

Interest declined by 28.52 per cent y-o-y to Rs 1.98 crore, while Taxation decreased by 48.15 per cent at Rs 1.68 crore (Sep'18 Rs 3.24 crore).