• The value of production for the quarter was higher by 25% to Rs 247.63 crore while the sales (net of excise) was up by 35% to Rs 261.61 crore. Sales higher than value of production reflects liquidation of prior period inventory during the quarter.
• Operating profit margin declined by 200 bps to 5.5%. This can be explained by higher material cost. Material cost as proportion to sales net of stocks was up by 310 bps to 88.3%. However that of staff cost was down by 40 bps to 2.3%. And the other expense was lower by 130 bps to 3.5%. Thus despite higher sales, hit by lower OPM the operating profit was down by 1% to Rs 14.40 crore.
• Other income was jumped by 259% to Rs 0.84 crore. Thus PBIDT was up by 3% to Rs 15.24 crore. However with interest cost up by 15% to Rs 3.46 crore and depreciation up by 18% to Rs 2.42 crore, the PBT was lower by 4% to Rs 9.36 crore.

Nine month performance

Standalone sales were higher by 25% to Rs 719.92 crore. But with operating margin stand lower at 5.8% compared to 6.2% in corresponding previous period, the operating profit stood up by 17% to Rs 41.80 crore. After accounting for higher other income, higher interest and higher depreciation the growth at PBT was 20% to Rs 27.24 crore. Taxation in absolute term was up by 19% to Rs 9.79 crore but the tax rate was lower at 35.9% compared to 36.3% in corresponding previous period. As tax rate stand lower, the PAT was up by 21% to Rs 17.45 crore.

Finally the net profit was up by 59% to Rs 33.98 crore as the PPT write back stand lower by 74% and other comprehensive income jump by 150% to Rs 16.43 crore.