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Advanced Enzyme Technologies net sales remained flat at Rs 110.50 crore for quarter ended June 20. The company operating margins decreased 170 bps to 46.8% leading 3% decrease in operating profits to Rs 51.73 crore.
Other income stood at Rs 5.23 crore compared to Rs 1.06 crore. Interest cost was Rs 46 lakh compared to Rs 82 lakh. Depreciation rose 7% to Rs 6.72 crore. PBT was up 5% to Rs 49.78 crore.
Tax expenses were up 11% to Rs 14.98 crore owing to which the company's net profit reported was up 2% to Rs 34.81 crore. Further considering minority interest, Bottomline of the company increased 3% to Rs 34.25 crore.
Consolidated performance for the year ended Mar20
For year ended Mar20, net sales rose 6% to Rs 443.99 crore. The company operating margins increased 240 bps to 45.6%. As a result operating profits rose 11% to Rs 202.33 crore.
Other income rose 12% to Rs 5.64 crore. Interest cost was down 22% to Rs 3.04 crore. Depreciation rose 22% to Rs 25.78 crore. PBT was up 11% to Rs 179.16 crore.
The effective tax rate decreased to 25.7% from 28.4% owing to which the company's net profit rose 15% at Rs 133.05 crore. Further considering minority interest, Bottomline of the company fell 16% to Rs 129.29 crore.
The scrip is currently trading at Rs 208
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