Other income decreased 71% to Rs 2.13 crore compared to Rs 7.23 crore. Interest cost was down 36% to Rs 6.84 crore. Depreciation fell 4% to Rs 5.52 crore. PBT was up 25% to Rs 31.52 crore.

Effective rate of taxes was down 710 bps to 20.6%. PAT reported was up 37% to Rs 25.02 crore.

Segment wise, petroleum products revenue stood at Rs 523.7 crore, down by 6% YoY and accounted for 96% of sales. PBIT from the same was up by 15% to Rs 28.01 crore and accounted for 68% of total PBIT with PBIT margin at 5.3% as compared to 4.4% for Sep18 quarter.

For the quarter, sales from wind power stood at Rs 19.02 crore down by 8% YoY and accounted for 3% of sales. PBIT from the same was down 11% to Rs 13.21 crore and accounted for 32% of total. PBIT margins stood at 69.5% as compared to 72.1% for Sep18 quarter.

Performance for the half year ended September 2019

For half year ended September 2019, net sales fell 3% to Rs 1078.42 crore. The company operating margins increased 160 bps to 8.2%. As a result operating profits rose 22% to Rs 88.95 crore.

Other income fell 48% to Rs 4.6 crore. Interest cost was down 43% to Rs 10.91 crore. Depreciation fell 5% to Rs 10.84 crore. PBT was up 39% to Rs 71.81 crore.

Effective tax rate was down 270 bps to 25.6%. PAT reported was up 47% to Rs 53.41 crore.

For the 6 months, sales from the petroleum products stood at Rs 1050.90 crore and accounted for 97% of sales. PBIT from the same was up by 22% to Rs 70.91 crore and accounted for 79% of total with PBIT margin at 6.7%.

For the 6 months, sales from the wind power stood at Rs 29.68 crore and accounted for 3% of sales. PBIT from the same was down by 2% to Rs 18.81 crore and accounted for 21% of total with PBIT margin at 63.4%.

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