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12/02/2024 16:31

Titan Biotech Q3 net profit zooms 173.33% at Rs 7.38 cr

The company reported standalone net profit of Rs 7.38 crore for the quarter ended December 31, 2023 as compared to Rs 2.70 crore in the same period last year, registering a year-on-year growth of 173.33 per cent.

Net revenue of the company rose substantially by 51.60 per cent at Rs 45.98 crore in October-December quarter of this fiscal as against Rs 30.33 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 35.09 per cent to Rs 35.38 crore from Rs 26.19 crore in year ago period.

Other Income grew by 57.14 per cent at Rs 0.44 crore versus (Dec'22 Rs 0.28 crore).

Operating Profit surged by 156.04 per cent to Rs 10.60 crore as against Rs 4.14 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 68.94 per cent in December quarter.

Interest grew by 85.71 per cent y-o-y to Rs 0.26 crore, while Taxation increased by 175.27 per cent at Rs 2.56 crore (Dec'22 Rs 0.93 crore).