Quarterly Performance
Total income from operation declined by 1% to Rs 174.65 crore for the quarter ended September 2009. The dip in topline is due to 15% fall in the exports to Rs 32.74 crore and contributed 19% of total sales and marginal growth of 3% in domestic revenues to Rs 141.92 crore. Expansion in operating profit margins by 100 bps to 26.5% directed operating profit to increase by 3% to Rs 46.30 crore. The growth in margins was powered by fall in consumption cost by 780 bps to 34.9% as percentage to income from operation, net of stock adjustment. Employee cost and other expenditure increased by 150 bps and 650 bps to 12.0% and 26.3%.
Other income increased by 24% to Rs 47.75 crore and marginal increase in the depreciation by 12% to Rs 5.28 crore resulted PBT before forex gain/loss to increase by 3% to Rs 42.16 crore. Forex gain of Rs 0.24 crore for the quarter as against Rs 1.56 crore in the corresponding previous period led PBT to decline by 1% to Rs 42.40 crore. Increase in the effective tax rate by 210 bps to 19.9% further increased the degrowth in net profit by 3% to Rs 33.97 crore.
Halfyearly performance
Total income from operations declined by 4% to Rs 343.98 crore for the half year ended September 2009. Operating profit margins registered healthy expansion of 270 bps to 26.9% led operating profit to increase by 7% to Rs 92.46 crore. Other income increased by 14% to Rs 2.13 crore. With 20% increase in interest cost to Rs 10.52 crore and forex loss of Rs 0.56 crore resulted PBT remains flat at Rs 83.17 crore. As the effective tax rate increased by 230 bps to 19.9%, net profit declined by 3% to Rs 66.36 crore.
Other information