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( As on 12/08/2022 16:50) Kolte-Patil Develope Q1 net profit zooms 607.09% at Rs 18.95 cr

The company reported standalone net profit of Rs 18.95 crore for the quarter ended June 30, 2022 as compared to Rs 2.68 crore in the same period last year, registering a year-on-year growth of 607.09 per cent.

Net revenue of the company rose moderately by 7.70 per cent at Rs 113.67 crore in April-June quarter of this fiscal as against Rs 105.54 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 4.58 per cent to Rs 86.00 crore from Rs 82.23 crore in year ago period.

Other Income grew by 35.03 per cent at Rs 4.78 crore versus (Jun'21 Rs 3.54 crore).

Operating Profit surged by 18.70 per cent to Rs 27.67 crore as against Rs 23.31 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 10.19 per cent in June quarter.

Interest declined by 38.78 per cent y-o-y to Rs 9.82 crore, while Taxation decreased by 74.37 per cent at Rs 1.62 crore (Jun'21 Rs 6.32 crore).