Sept quarter profit rises 71%; auditor flags old receivables
DEEPINDS · price
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Deep Industries reported September-quarter standalone revenue from operations of Rs 17,938.57 lakh, up 64% year on year, and net profit of Rs 5,022.73 lakh, up 69%. On a consolidated basis, revenue rose 69% to Rs 22,100.93 lakh and profit rose 71% to Rs 7,122.82 lakh. The review conclusion was not modified, but the auditor highlighted unconfirmed old receivables from acquired entities.
Strong earnings growth may support the share price, but uncertainty over recovery of old acquired-entity receivables may cap gains.