• The value of production was up by 17% to Rs 146.08 crore. But the operational income for the quarter was higher by 21% (to Rs 160.84 crore). Sale for the period was 10.1% higher than value of production compared to 6.3% higher in corresponding previous period. This reflects relatively strong liquidation of inventory during the quarter.
• Operating profit margin expanded by 320 bps to 7.3% and that is largely due to fall in all cost heads barring staff cost. Material cost as proportion to sales net of stocks was down by 370 bps to 77.1%. Similarly the other expense was lower by 30 bps to 10.2%. Staff cost though stood higher by 40 bps to 4.6% that is not good enough to offset the gain in other cost thereby facilitate strong expansion in OPM. Thus facilitated by higher sale and strong expansion in OPM, the operating profit jumped up by 114% to Rs 11.76 crore.
• Other income jumped up by 199% to Rs 15.59 crore. Thus the PBIDT was up by 155% to Rs 27.35 crore. The interest cost was up by 10% to Rs 0.13 crore. The depreciation was down by 3% to Rs 1.43 crore. Thus the PBT was up by 183% to Rs 25.79 crore.
• Taxation in absolute terms more than doubled to Rs 4.83 crore but the tax incidence was lower at 18.7% compared to 25.7% in the corresponding previous period. Thus growth at net profit more than trebled (up 209%) to Rs 20.96 crore.

Half yearly performance

Sales were higher by 25% to Rs 275.94 crore. Higher sale together with 320 bps expansion in OPM, the operating profit jumped by 135% to Rs 18.72 crore. The other income was up by 85% to Rs 21.53 crore. The interest cost was higher by 13% to Rs 0.22 crore and depreciation was lower by 5% to Rs 2.74 crore. Thus the PBT more than doubled (up 126%) to Rs 37.29 crore. The taxation was up by 120% to Rs 7.23 crore and thus the PAT was up by 128% to Rs 30.05 crore.

The stock hovers around Rs 881.