• The operating income for the quarter was higher by 20% to Rs 186.99 crore and the value of production for the quarter too was up by 20% to Rs 180.01 crore.
• Expansion in operating margin to the extent of 700 bps on year on year basis was largely on account of fall in material cost as well as other expenses. The material cost as proportion to sales net of stocks was lower by 690 bps to 65.2% and the other expenses was lower by 80 bps to 11.3%. Though the staff cost was higher by 50 bps to 8% that is not good enough to completely offset the gain in other cost heads there by leading to sharp expansion in OPM. Thus gained the operating profit was up by 123% to Rs 27.96 crore.
• Other income was higher by 24% to Rs 14.53 crore largely with benefit of hardening interest rate (on shorterm investment of surplus cash) kicking in. The interest cost was just Rs 12 lakh compared to nil in the corresponding previous quarter. The depreciation was down by 14% to Rs 1.02 crore. Thus the PBT before EO was higher by 79% to Rs 41.35 crore. EO for the quarter as well as corresponding previous period was nil.
• The taxation in absolute terms was higher by 76% to Rs 13.56 crore and the tax rate was lower at 32.8% compared to 33.4% in the corresponding previous period. Thus the PAT before EO (net of tax) was higher by 81% to Rs 27.79 crore.

Nine month performance

Sales were higher by 22% to Rs 462.94 crore. As OPM stand contracted by 90 bps to 11.6% the growth at operating profit was restricted to 13% to Rs 53.51 crore. Other income was higher by 38% to 42.90 crore. The interest cost was Rs 47 lakh (against nil in 9mFY12) and depreciation was higher by 13% to Rs 3.89 crore. Thus the PBT was up by 22% to Rs 92.05 crore. EO income was nil for the period as well as corresponding previous period. The taxation was up by 20% to Rs 30.04 crore but the tax rate was lower at 32.6% compared to 33.4% in the corresponding previous period. Thus gained, the PAT before EO (net of tax) was up by 24% to Rs 62.01 crore.

The stock was hovering around Rs 457.35.