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For the quarter ended Dec 18, net sales were higher by 3% YoY to Rs 1657.07 crore. Lower Exim volumes dented the revenue growth. OPM was down by 150 bps to 25.2%, thus resulting in a 2% fall in OP to Rs 418.38 crore. Other income was higher by 4% to Rs 74.12 crore and interest costs were at Rs 0.02 crore. Depreciation was higher by 6% to Rs 105.88 crore which resulted in a 3% decrease in PBT to Rs 386.6 crore. Total tax provision was lower by 9% to Rs 111.92 crore on YoY basis. Thus PAT for the quarter ended Dec 18 stood at Rs 274.69 crore down by 1% YoY.
For the quarter ended Dec 18, Exim sales, which constitute around 78% of total sales, were flat on YoY basis to Rs 1300.52 crore. Domestic sales were higher by 17% to Rs 356.55 crore. PBIT Margin of Exim business stood at 24.4% and PBIT stood at Rs 317.57 crore, up by 92% on YoY basis. PBIT margin of Domestic business stood at 7.2% and PBIT stood at Rs 25.80 crore as compared to loss of Rs 7.63 crore for Dec 17 quarter.
Performance for 9 months ended Dec 18
For the 9 months ended Dec 18, net sales were higher by 12% YoY to Rs 5047.62 crore. OPM was higher by 220 bps to 26%, thus resulting in a 22% rise in OP to Rs 1312.74 crore. Other income was lower by 12% to Rs 205.41 crore and interest costs were Rs 0.06 crore. Depreciation was higher by 7% to Rs 312.86 crore which resulted in a 7% increase in PBT to Rs 312.86 crore. Total tax provision was higher by 28% to Rs 342.13 crore on YoY basis. Thus PAT for 9 months ended Dec18 stood at Rs 863.10 crore, up by 15% YoY.
For the 9 months ended Dec 18, Exim sales, which constitute around 79% of total sales, were higher by 12% to Rs 4000.27 crore. Domestic sales were higher by 12% and stood at Rs 1047.35 crore. PBIT Margin of Exim business stood at 25.4% and PBIT stood at Rs 1017.79 crore, up by 28% YoY. PBIT margin of Domestic business stood at 6.8% and PBIT stood at Rs 71.43 crore, up by 34% YoY
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