• Operating profit margin expanded by 460 bps to 12.7%. Expansion in OPM was largely due to lower sub contract and other construction expense. The subcontract charges as proportion to sales was down by 760 bps to 29%. Similarly the other construction expense was down by 370 bps to 8.5%. The staff cost was marginally down by 10 bps to 4.1%. But material cost was up by 760 bps to 43.8% and that of OE was flat at 2.4%. Powered by higher sales and higher margin, the operating profit jumped up by 75% to Rs 304.43 crore.
• Other income was down by 48% to Rs 24.64 crore. The PBIDT was up by 49% to Rs 329.07 crore. After accounting for lower interest cost (down 2% to Rs 99.74 crore) and depreciation (up 13% to Rs 31.14 crore) the PBT was up by 117% to Rs 198.19 crore.
• The EO expense was Rs 30.0 crore, a fall of 37%. Thus the PBT after EO ballooned by 282% to Rs 168.19 crore. The taxation was a provision of Rs 65.48 crore compared to a write back of Rs 19.66 crore. Thus the PAT was higher by 61% to Rs 102.71 crore.

Yearly performance

Operating income was lower by 4% to Rs 7559.33 crore as sales for current period is net of GST unlike corresponding previous period that is gross of impact of excise/VAT. With OPM expand by 180 bps to 10.7% the operating profit was up by 8% to Rs 550.45 crore. After accounting for lower other income, lower interest and higher depreciation, the PBT was up by 49% to Rs 474.30 crore. EO expense for the period was Rs 106.56 crore, jump of 112%. Thus the growth at PBT after EO moderated and stood at 38% to Rs 367.74 crore. The taxation was up by 94% to Rs 80.94 crore. Thus the PAT was up by 27% to Rs 286.80 crore.

Consolidated sales was lower by 7% to Rs 8390.64 crore and with OPM expand by 310 bps to 10.5%, the operating profit was up by 31% to Rs 879.39 crore. The PAT ballooned to Rs 138.73 crore compared to a profit of Rs 8.40 crore in the corresponding previous period. Eventually the total comprehensive income attributable to owners was up by 405% to Rs 173.86 crore.