Quarter Performance
The operating income grew by healthy 28% to Rs 157.16 crore in June 2011 quarter. However spike in cost of traded goods pulled down the OPM by whopping 210 bps to 16.2%. Thus it limited the growth in its operating profit to 13% to Rs 25.52 crore. Cost of traded goods, as % to sales net stock adjusted, surged by whopping 1140 bps to 13%. The rest of expenses reported downfall i.e. raw material costs by 350 bps to 47%; other expenditure by 180 bps to 19% and staff cost by 210 bps to 7%.
The PBT grew by meagre 5% to Rs 26.23 crore primarily on account of crash in other income. The interest cost grew by notable 50% to Rs 0.18 crore while the other income crashed by 34% to Rs 3.57 crore. Partial respite was received from 8% fall in depreciation cost to Rs 2.68 crore. The net profit was lifted by 7% to Rs 18.72 crore on 140 bps fall in effective tax rate.
Half Year Performance
In half year ended June 2011, the topline grew by robust 47% to Rs 323.72 crore. Fall in OPM by 130 bps to 17.3% limited the growth in operating profit though to healthy 37% to Rs 55.96 crore. Fall in depreciation cost though partly offset by marginal other income led to robust 38% increase to Rs 58.03 crore in PBT. Nevertheless, 300 bps crash in effective tax rate boosted the net profit by robust 44%t o Rs 41.70 crore.
The total promoters' holding in company stands unchanged at 80.02% in June 2011 quarter. The promoters' have pledged nil shares of the company.
The scrip closed at Rs 222.30 on 5th Aug 2011 at BSE.
