Other income increased 97% to Rs 1.39 crore compared to Rs 0.71 crore. Interest cost was down 17% to Rs 3.78 crore. Depreciation was up 6% to Rs 17.79 crore. PBT before EO was up 123% to Rs 42.76 crore. The company had EO expense of Rs 2.16 crore in Q3FY20 compared to EO expense of Rs 0.05 crore in Q3FY19. The Holding Company entered into a Business Transfer Agreement dated 12th April, 2019 for transfer of its Industrial Mixing Solutions Division on a going concern basis. The resultant gain of Rs. 19.33 crore was recognized under "Exceptional Items" in the quarter ended 30th June, 2019. In the current quarter, the Holding company worked out the final amount after working capital adjustment and accounted for loss in the current quarter for Rs. 2.163 crore as exceptional item. PBT after EO was up 112% to Rs 40.59 crore.

Tax provision was Rs 12.28 crore compared to Rs 2.68 crore. PAT reported was up 72% to Rs 28.31 crore.

Performance for the nine months ended December 2019

For nine months ended December 2019, net sales rose 8% to Rs 1259.07 crore. The company operating margins increased 340 bps to 15.3%. As a result operating profits increased 39% to Rs 192.31 crore.

Other income rose 15% to Rs 3.69 crore. Interest cost was Rs 11.2 crore compared to Rs 11.9 crore. Depreciation rose 7% to Rs 51.9 crore. PBT before EO was up 64% to Rs 132.91 crore. The company had net EO income of Rs 17.17 crore related to net gain for transfer of its industrial mixing solutions division compared EO income to Rs 72.34 crore in the corresponding previous year period related to gain from sale of subsidiary. PBT after EO fell 2% to Rs 150.08 crore.

Tax provision was Rs 32.31 crore compared to Rs 48.29 crore. PAT reported was up 12% to Rs 117.77 crore.

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