Markets

News Details

( 09 Aug 2020)
Virinchi L Q1 net profit down 64.25% at Rs 2.17 cr

The company reported standalone net profit of Rs 2.17 crore for the quarter ended June 30, 2020 as compared to Rs 6.07 crore in the same period last year, registering a year-on-year decline of 64.25 per cent.

Net revenue of the company declined marginally by 2.78 per cent at Rs 33.60 crore in April-June quarter of this fiscal as against Rs 34.56 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 10.19 per cent to Rs 25.30 crore from Rs 22.96 crore in year ago period.

Other Income dipped by 74.29 per cent at Rs 0.09 crore versus (Jun'19 Rs 0.35 crore).

Operating Profit slipped by 28.51 per cent to Rs 8.30 crore as against Rs 11.61 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 26.44 per cent in June quarter.

Interest declined by 13.16 per cent y-o-y to Rs 1.32 crore, while Taxation increased by 88.89 per cent at Rs 1.02 crore (Jun'19 Rs 0.54 crore).