Other Income increased 120% to Rs 15.7 crore in Q3FY21 from Rs 7.15 crore in Q3FY20 while interest cost jumped 58% to Rs 4.68 crore and depreciation rose 63% to Rs 19.89 crore. As a result PBT was up 57% to Rs 135.06 crore. Effective rate of tax rose 120 bps to 25.9% leading a 54% increase in PAT to Rs 99.28 crore.

During the quarter, the revenue from operations on standalone basis was Rs. 605 crore compared to Rs. 518 crore of Q3FY20, registering a growth of 17%. The EBITDA for the quarter was Rs. 99 crore as compared to Rs. 71 crore of corresponding quarter. The Net Profit (PAT) for Q3FY21 was Rs. 78 crore as compared to Rs. 53 crore of corresponding quarter.

During this quarter, Revenue from operations from Australia was Rs. 121 crore compared to Rs. 90 crore of Q3FY20, registering a growth of 34%. The EBITDA increased to Rs. 26 crore from Rs. 12 crore of corresponding quarter (Rs. 5 crore due to change in Accounting Standard in Australia) and the Net Profit (PAT) was Rs. 12 crore compared to Rs. 7 crore of corresponding quarter.

During this quarter, Revenue from operations from Spain was Rs. 100 crore compared to Rs. 50 crore of Q3FY20, registering a growth of 100%. The EBITDA increased to Rs. 18 crore from Rs. 10 crore of corresponding quarter and the Net Profit (PAT) was Rs. 11 crore compared to Rs. 6 crore of corresponding quarter.

For nine months ended Dec20, consolidated net sales fell 13% to Rs 876.8 crore. The company operating margins increased 320 bps to 15.3%. As a result operating profits rose 1% to Rs 134.26 crore. Other income fell 3% to Rs 20.12 crore. Interest cost was up 78% to Rs 8.38 crore. Depreciation rose 74% to Rs 34.54 crore.

PBT was down 13% to Rs 111.46 crore. Effective tax rate was up 340 bps to 26.8%. PAT reported was down 17% to Rs 81.64 crore. Further considering prior period tax and minority interest net profit fell 18% to Rs 80.3 crore.

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