For the quarter ended Dec'16, net sales was lower by 5% YoY to Rs 1330.41 crore. OPM was lower by 10 bps to 19.6%, thus resulting in a 5% fall in OP to Rs 261.18 crore. Other income was higher by 3% to Rs 84.52 crore and interest costs were Rs 14 lakh. Depreciation was higher by 9% to Rs 92.71 crore which resulted in a 7% decrease in PBT to Rs 252.85 crore. Total tax provision was lower by 1% to Rs 66.86 crore on YoY basis, PAT for the quarter ended Dec'16 stood at Rs 185.99 crore down by 9% YoY.
For the quarter ended Dec'16, Exim sales, which constitute around 80% of total sales, were lower by 7% to Rs 1058.09 crore. Domestic sales were more or less flat at Rs 272.32 crore. PBIT Margin of Exim business stood at 17.1% and PBIT stood at Rs 181.08 crore, down by 12% YoY. PBIT margin of Domestic business stood at 0.1% and PBIT stood at Rs 0.32 crore, down by 93% YoY
Performance for 9 months ended Dec'16
For the 9 months ended Dec'16, net sales were lower by 6% YoY to Rs 4048.24 crore. OPM was lower by 160 bps to 18.6%, thus resulting in a 14% fall in OP to Rs 751.87 crore. Other income was lower by 8% to Rs 229.98 crore and interest costs were Rs 44 lakh. Depreciation was higher by 2% to Rs 264.11 crore which resulted in a 17% decrease in PBT to Rs 717.30 crore. Total tax provision was lower by 10% to Rs 194.99 crore on YoY basis, PAT for the quarter ended Dec'16 stood at Rs 522.31 crore down by 19% YoY.
For the quarter ended Dec'16, Exim sales, which constitute around 81% of total sales, were lower by 7% to Rs 3278.94 crore. Domestic sales were lower by 4% and stood at Rs 769.30 crore. PBIT Margin of Exim business stood at 17.1% and PBIT stood at Rs 564.61 crore, down by 15% YoY. PBIT margin of Domestic business stood at 1.5% and PBIT stood at Rs 11.22 crore, down by 23% YoY
The company declared an interim dividend of Rs 9.6 per share of face value of Rs 10 each for FY'17.
The company also declared a bonus issue of 1 equity share for every 4 equity shares held by the shareholders.