• Strong 230 bps contraction in OPM is largely due to higher staff cost. The staff cost as proportion to sales net of stocks was up by 310 bps to 21%. Though material cost was down by 150 bps to 32.8% and the other expenses was nearly flat at 31.2%, that could not fully offset the rise in staff cost and drag on OPM.
• Lower sales and 230 bps contraction in OPM resulted in 16% fall in OP to Rs 4.82 crore. The other income was up by 26% to Rs 1.45 crore and this has moderated the fall at PBIDT to 9% (to Rs 6.27 crore). With interest being nil and depreciation stand higher by 5% to Rs 2.50 crore, the PBT before EO was down by 16% to Rs 3.77 crore.
• The current tax was down by 21% to Rs 0.98 crore and the tax rate was down at 26% compared to 27.5% in corresponding previous period. Thus the PAT was down by 15% to Rs 2.79 crore.
• Other comprehensive expense was Rs 0.52 crore for the quarter compared to nil in the corresponding previous period. Thus the total comprehensive income was down by 31% to Rs 2.27 crore.

Consolidated sales was lower by 4% to Rs 36.93 crore and the operating profit was down by 15% to Rs 5.80 crore as hit by lower sales and 200 bps contraction in OPM. Eventually the PAT was down by 21% to Rs 2.65 crore.

Half yearly performance

Standalone sale for the period was down by 2% to Rs 61.23 crore and with OPM down by 410 bps to 13.5% the operating profit was down by 25% to Rs 8.28 crore. The PAT was eventually lower by 32% to Rs 3.88 crore.

Consolidated sale for the period was down by 3% to Rs 70.11 crore and the PAT was down by 28% to Rs 4.93 crore.

The stock hovers around Rs 2368.80.