| Mahindra EPC Irrigation net sales fell 15% to Rs 55.38 crore for quarter ended Sep''20 compared to corresponding previous year period. Operating margins of the company rose 50 bps to 11.6% leading a 11% fall in operating profit to Rs 6.4 crore.
Other income rose to Rs 21 lakh compared to Rs 17 lakh in the corresponding previous year quarter. Interest cost was Rs 8 lakh compared to Rs 65 lakh. Depreciation fell 11% to Rs 78 lakh. PBT fell 2% to Rs 5.75 crore.
Tax expense was down 22% to Rs 1.5 crore. Net profit rose 8% to Rs 4.25 crore. Further considering share of loss in JV and prior period adjustments, net profit rose 11% to Rs 4.1 crore.
Performance for half year ended Sep'20
For half year ended Sep'20, net sales fell 14% to Rs 101.95 crore compared to corresponding previous year period. Operating margins of the company rose 10 bps to 9.8% leading a 13% decrease in operating profit to Rs 10.01 crore.
Other income rose 584% to Rs 1.82 crore. Interest cost was Rs 15 lakh compared to Rs 99 lakh. Depreciation fell 12% to Rs 1.53 crore. PBT as a result rose 12% to Rs 10.14 crore. Tax expense was down 10% to Rs 2.64 crore. Net profit rose 23% to Rs 7.5 crore. Further considering share of loss in JV and prior period adjustments, net profit rose 23% to Rs 7.19 crore
The scrip is trading at Rs 156 at BSE |