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( As on 22/11/2023 18:42) Abhinav Leasing Q2 net profit down 75.00% at Rs 0.03 cr

The company reported standalone net profit of Rs 0.03 crore for the quarter ended September 30, 2023 as compared to Rs 0.12 crore in the same period last year, registering a year-on-year decline of 75.00 per cent.

Net revenue of the company declined substantially by 46.23 per cent at Rs 6.99 crore in July-September quarter of this fiscal as against Rs 13.00 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 39.83 per cent to Rs 6.98 crore from Rs 11.60 crore in year ago period.

Other Income grew by 433.33 per cent at Rs 0.10 crore versus (Sep'22 Rs -0.03 crore).

Operating Profit slipped by 99.29 per cent to Rs 0.01 crore as against Rs 1.40 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 98.61 per cent in September quarter.

Interest declined by 93.50 per cent y-o-y to Rs 0.08 crore