• Downside in revenue is due to sharp fall in revenue of both textile machinery division as well as machine tools & foundry (MTF) division. The segment revenue of textile machinery division was down by 46% to Rs 311.60 crore (or 73% of sales). Similarly the sales of MTF division was down by 50% to Rs 104.77 crore (or 25% of sales). On the other hand the segment revenue of Advanced Technology Centre (ATC) was up by 6% to Rs 8.74 crore (or 2% of sales).

• PBIT was down by 87% to Rs 8.27 crore. And the sharp fall in PBIT was largely due to 93% fall in segment profit of textile machinery division to Rs 2.57 crore and 70% fall in segment profit of MTF division to RS 8.37 crore. The ATC division registered a segment loss of Rs 2.68 crore higher from RS 2.29 crore of loss in corresponding previous period.

Consolidated sales for the quarter were down by 50% to Rs 409.34 crore and with OPM skid to 2.2% from 11.4% in corresponding previous period, the operating profit was down by sharp 90% to Rs 8.90 crore. After accounting for lower other income, lower interest and depreciation cost, the PBT before EO was down by 83% to Rs 18.54 crore. With OE being nil for the quarter compared to RS 33.43 crore of expense in the corresponding previous period on an deflated base, the PBT after EO was down by 75% to Rs 18.54 crore. After accounting for lower taxation the PAT was down by 71% to Rs 12.16 crore.

Half yearly performance

Standalone sales for the period was down by 39% to Rs 863.73 crore and the operating profit was down by 84% to Rs 23.18 croe hit by lower sales and 780 bps fall in OPM to 2.7%. The PBT before EO was down by 76% to Rs 42.99 crore after accounting for lower OI, interest and depreciation. The OE was nil against an expense of Rs 37.04 crore in the corresponding previous period. Thus the PBT after EO was down by 70% to RS 42.99 crore. Eventually the PAT was down by 65% to Rs 31.49 crore.

Consolidated sales for the period was lower by 42% to Rs 868.12 crore and the net profit was down by 75% to Rs 22.63 crore.