Federal-Mogul Goetze Q2 net profit down 49.07% at Rs 10.72 cr
08/11/2019 19:10

The company reported standalone net profit of Rs 10.72 crore for the quarter ended September 30, 2019 as compared to Rs 21.05 crore in the same period last year, registering a year-on-year decline of 49.07 per cent.

Net revenue of the company declined substantially by 25.92 per cent at Rs 254.19 crore in July-September quarter of this fiscal as against Rs 343.11 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 21.05 per cent to Rs 236.08 crore from Rs 299.02 crore in year ago period.

Other Income dipped by 22.69 per cent at Rs 8.55 crore versus (Sep'18 Rs 11.06 crore).

Operating Profit slipped by 58.92 per cent to Rs 18.11 crore as against Rs 44.08 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 44.51 per cent in September quarter.

Interest declined by 51.33 per cent y-o-y to Rs 1.10 crore, while Taxation decreased by 161.86 per cent at Rs -6.99 crore (Sep'18 Rs 11.30 crore).