Other Income increased 504% to Rs 4.63 crore in Q3FY21 from Rs 77 lakh in Q3FY20 while interest cost fell 60% to Rs 3.52 crore and depreciation rose 13% to Rs 15.08 crore. As a result PBT was up 179% to Rs 88.97 crore. Effective rate of tax rose 100 bps to 25% leading a 175% increase in PAT to Rs 66.79 crore.

For nine months ended Dec'20, net sales rose 9% to Rs 1310.16 crore. The company operating margins increased 220 bps to 16.4%. As a result operating profits rose 26% to Rs 214.83 crore. Other income rose 637% to Rs 13.11 crore. Interest cost was down 37% to Rs 15.7 crore. Depreciation rose 18% to Rs 44.33 crore.

PBT was up 52% to Rs 167.92 crore. Effective tax rate was up 200 bps to 26%. PAT reported was up 48% to Rs 124.61 crore.

The scrip is currently trading around Rs 380 on the BSE