• OPM contracted by 250 bps to 6.3% and that is largely to do with rise in all cost heads barring material cost. It seems the company could not recover fixed cost over lower volume. Material cost as proportion to sales net of stocks and excise duty was lower by 130 bps to 76%. But the staff cost was up by 130 bps to 4.7%. The OE was up by 250 bps to 13.2%. Thus hit by lower sales and lower OPM, the operating profit was down by 43% to Rs 9.60 crore.
• The other income was up by 2% to Rs 0.89 crore. Thus the de-growth at PBIDT was restricted to 41% (to Rs 10.49 crore). The interest cost was up by 4% to Rs 9.82 crore. The depreciation was up by 8% to Rs 3.71 crore. Thus the PBT was a loss of Rs 3.04 crore compared to a profit of Rs 4.90 crore in the corresponding previous period.
• The taxation (net of deferred tax) was down by 53% to Rs 0.85 crore. Thus the PAT was a loss of Rs 3.89 crore compared to a profit of Rs 3.08 crore in the corresponding previous period.
• The other comprehensive expense was up by 400% to Rs 0.05 crore and thus the total comprehensive income was a loss of Rs 3.94 crore compared to a profit of Rs 3.07 crore in the corresponding previous period.

Nine month performance

Sales was lower by 28% to Rs 440.52 crore and with OPM contract by 200 bps to 7.1%, the operating profit was down by 44% to Rs 31.38 crore. Eventually the PAT was a loss of Rs 3.24 crore compared to a profit of Rs 13.70 crore.