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Tide water oil (India) consolidated net sales fell 2% to Rs 345.99 crore in Q3FY20 compared to Q3FY19. The company operating margins increased 510 bps to 13.3% leading to 61% rise in operating profits to Rs 46.04 crore.
Other income increased 3% to Rs 6.1 crore compared to Rs 5.95 crore. Interest cost was Rs 0.75 compared to Rs 0.45 crore. Depreciation was up 23% to Rs 3.28 crore. PBT was up 53% to Rs 48.11 crore.
Provision for taxation remained flat at Rs 11.29 crore after which PAT stood at Rs 36.82 crore against Rs 20.14 crore. Further considering share of profit of JV and associate Net profit rose 74% to Rs 41.97 crore
Consolidated Performance for the nine months ended December 2019
In 9MFY 2019, sales remained flat at Rs 1011.53 crore. OPM rose 160 basis points to 10.9% which saw OP rise 17% to Rs 110.39 crore.
Other income rose 4% to Rs 15.66 crore and interest cost increased 23% to Rs 1.99 crore. As deprecation grew 19% to Rs 9.22 crore, PBT went up 15% to Rs 114.84 crore.
Provision for taxation fell 18% to Rs 29.96 crore after which PAT stood at Rs 84.88 crore against Rs 63.13 crore. Further considering share of profit of JV and associate Net profit rose 38% to Rs 97.92 crore
The scrip is currently trading at Rs 4874
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