Half-year profit jumps on Rs 954 lakh insurance payout
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On the reaction day the stock moved 3.3 pts more than Nifty Microcap 250 and 4.4 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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For the September quarter, revenue was Rs 1,477.64 lakh, up from Rs 1,300.70 lakh, while profit after tax was Rs 198.59 lakh versus Rs 100.04 lakh. In the June quarter, a Rs 954 lakh insurance policy payout was booked as an exceptional item. Half-year revenue was Rs 2,504.89 lakh versus Rs 2,427.43 lakh, while profit after tax rose to Rs 1,079.37 lakh from Rs 124.73 lakh. Cash flow was positive at Rs 385.43 lakh; the review found no issues.
The one-time insurance payout drove the profit jump and may not repeat. Underlying profit and margins improved, but revenue growth stayed modest.