The company during the current quarter has received variation orders from two of its clients. The cumulative impact of these variation order on turnover and operating profit during the quarter was Rs 70.03 crore and Rs 65.06 crore respectively.
Nine month performance
Sales were lower by 27% to Rs 1277.87 crore and the operating profit was up by 43% to Rs 355.53 crore as the OPM expand by 310 bps to 27.8%. After accounting for lower other income, higher interest and higher depreciation cost the PBT was up by 18% to Rs 468.84 crore. The taxation was up by 24% to Rs 176.63 crore but the tax rate was marginally lower at 34.1% compared to 34.9% in the corresponding previous period. Thus the PAT was up by 19% to Rs 309.01 crore. After accounting for higher short provisioning of earlier period tax and higher other comprehensive expenses the total comprehensive income was up 18% to Rs 301.59 crore.
Segment profit of C&EP was up by 49% (to Rs 340.63 crore) facilitated by higher sales (up 28% to Rs 1042.03 crore) and 460 bps expansion in segment margin to 32.7%. However despite higher sales, the segment profit of LTP was down by 11% to Rs 63.27 crore hit largely by 1030 bps expansion contraction in segment margin to 26.8%.