CARE Ratings Q1 net profit down 48.77% at Rs 13.09 cr

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The company reported a standalone net profit of Rs 13.09 crore for the quarter ended June 30, 2019, as compared to Rs 25.55 crore in the same period last year, registering a year-on-year decline of 48.77 percent. 




Net revenue of the company declined substantially by 21.25 percent at Rs 45.22 crore in the April-June quarter of this fiscal as against Rs 57.42 crore in the corresponding period last year. During the April-June quarter, operating expenses increased by 17.12 percent to Rs 33.80 crore from Rs 28.86 crore in the year-ago period.


Other Income grew by 82.55 percent at Rs 7.74 crore versus (Jun'18 Rs 4.24 crore). Operating profit slipped by 59.96 percent to Rs 11.43 crore as against Rs 28.55 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 49.19 percent in June quarter. Interest grew by 0.00 percent y-o-y to Rs 0.20 crore, while Taxation decreased by 36.46 percent at Rs 4.20 crore (Jun'18 Rs 6.61 crore).



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