Other income increased 26% to Rs 4.16 crore compared to Rs 3.3 crore. Interest cost was down 17% to Rs 13.35 crore. Depreciation rose 23% to Rs 57.99 crore. PBT was up 27% to Rs 90.69 crore.

Tax expense during the quarter was up 13% to 28.88 crore. PAT reported was up 35% to Rs 61.81 crore. Further considering share of profit or loss of JV and associates and minority interest net profit rose 32% to Rs 60.11 crore.

For the quarter, sales from the Amesa geography stood at Rs 251.56 crore, down by 1% YoY and accounted for 34% of the total sales. PBIT from the same stood at Rs 36.91 crore up by 1% YoY and accounted for 37% of total PBIT with PBIT margins at 14.7%

For the quarter, sales from the EAP geography stood at Rs 173.99 crore, up by 1% YoY and accounted for 24% of total sales and PBIT from the same stood at Rs 32.71 crore up by 2% YoY with PBIT margin at 18.8%.

For the quarter, sales from the America geography stood at Rs 145.66 crore up down 1% and PBIT from the same stood at Rs 21.52 crore up by 30% YoY. PBIT margin stood at 14.8%

For the quarter, sales from the EU geography stood at Rs 161.76 crore up by 12% YoY and PBIT stood at Rs 9.73 crore up by 497% with PBIT margin at 6%.

Performance for the half year ended December 2019

For 9 mths ended Dec19, consolidated net sales rose 3% to Rs 2071.2 crore. OPM was higher by 190 bps to 20.2% thus resulting in a 14% increase in OP to Rs 418.95 crore. Other income was down 34% to Rs 12.64 crore. Interest cost stood at Rs 42.62 crore down by 7% and depreciation stood at Rs 172.39 crore up by 26% thus resulting in a PBT before EO of Rs 216.58 crore up by 6%. There was net EO expense of Rs 9.39 crore (Rs.10.91 crore gain on sale of Land and Building of one of its factory and Rs. 20.30 crore being impairment provision made towards loan given (including interest) on the basis of impairment assessment carried out by the management) as compared to nil EO income/expense. Thus PBT after EO stood at Rs 207.19 crore up by 1%. After tax expense of Rs 44.08 crore down by 35%, PAT stood at Rs 163.11 crore up by 19%. Further considering share of profit or loss of JV and associates and minority interest net profit rose 13% to Rs 158.64 crore.

For the 9 mths ended Dec 19, sales from the Amesa geography stood at Rs 719.92 crore flat on YoY basis and accounted for 34% of the total sales. PBIT from the same stood at Rs 83.47 crore down by 15% YoY and accounted for 33% of total PBIT.

For the 9 mths ended Dec 19, sales from the EAP geography stood at Rs 487.7 crore, down by 5% YoY and accounted for 23% of total sales and PBIT from the same stood at Rs 84.9 crore down by 4% YoY with PBIT margin at 17.4%.

For the 9 mths ended Dec19, sales from the America geography stood at Rs 447.06 crore up by 5% and PBIT from the same stood at Rs 59.12 crore up by 17% YoY. PBIT margin stood at 13.2%

For the 9 mths ended Dec 19, sales from the Europe geography stood at Rs 487.47 crore up by 16% and PBIT from the same stood at Rs 24.74 crore up by 237% YoY. PBIT margin stood at 5.1%

The Board of Directors have declared interim dividend of Rs. 1.25 per equity shares of face value of Rs. 2 each. The Record date for the said purpose is fixed as 20 November 2019.

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