Q2 profit falls 20 percent year on year; board approves Nagpur plant land
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board approved Q2 and half-year results and agreed to buy Nagpur land for a formulation plant, subject to due diligence and approvals. Q2 revenue fell 8.6% year on year to Rs 598.25 crore and net profit fell 20.0% to Rs 93.97 crore. For the half-year, revenue declined 1.9% to Rs 1,126.54 crore and profit fell 10.2% to Rs 149.47 crore. The profit margin before interest, tax, depreciation and amortisation narrowed to 23.9% from 26.0%.
Weaker revenue, profit and margins point to near-term pressure, while the Nagpur plant may support future growth. The land cost was not disclosed.