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Advanced Enzyme Technologies net sales rose 10% to Rs 111.94 crore for quarter ended December 2019. The company operating margins increased 620 bps to 47.2% leading 27% increase in operating profits to Rs 52.87 crore.
Other income stood at Rs 1.21 crore compared to Rs 4 lakh. Interest cost was Rs 79 lakh compared to interest income of Rs 34 lakh. Depreciation rose 18% to Rs 6.39 crore. PBT was up 28% to Rs 46.89 crore.
Tax expenses were up 9% to Rs 12.33 crore owing to which the company's net profit reported was up 36% to Rs 34.56 crore. Further considering minority interest, Bottomline of the company was up 37% to Rs 33.61 crore.
Consolidated performance for the nine months ended December 2019
For nine months ended December 2019, net sales rose 8% to Rs 333.72 crore. The company operating margins increased 320 bps to 46%. As a result operating profits rose 16% to Rs 153.63 crore.
Other income rose 58% to Rs 3.8 crore. Interest cost was down 29% to Rs 2.34 crore. Depreciation rose 21% to Rs 19.13 crore. PBT was up 18% to Rs 135.96 crore.
The effective tax rate decreased to 26.2% from 28.6% owing to which the company's net profit rose 22% at Rs 100.37 crore. Further considering minority interest, Bottomline of the company fell 24% to Rs 97.96 crore.
The scrip is currently trading at Rs 177
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