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10/02/2024 21:21

I P Rings posts Q3 net loss of Rs 0.95 cr

The company reported standalone net loss during the quarter stood at Rs 0.95 crore compared to net profit of Rs 0.06 crore in the previous year quarter.ÿ

Net revenue of the company declined moderately by 10.44 per cent at Rs 73.92 crore in October-December quarter of this fiscal as against Rs 82.54 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 10.31 per cent to Rs 68.93 crore from Rs 76.85 crore in year ago period.

Other Income dipped by 43.75 per cent at Rs 0.72 crore versus (Dec'22 Rs 1.28 crore).

Operating Profit slipped by 12.15 per cent to Rs 4.99 crore as against Rs 5.68 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1.89 per cent in December quarter.

Interest grew by 1.42 per cent y-o-y to Rs 2.85 crore, while Taxation decreased by 530.00 per cent at Rs -0.43 crore (Dec'22 Rs 0.10 crore).