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( As on 25/11/2021 18:20)

Kovai Medical Q2 net profit down 15.35% at Rs 24.15 cr

The company reported standalone net profit of Rs 24.15 crore for the quarter ended September 30, 2021 as compared to Rs 28.53 crore in the same period last year, registering a year-on-year decline of 15.35 per cent.

Net revenue of the company rose moderately by 18.44 per cent at Rs 216.99 crore in July-September quarter of this fiscal as against Rs 183.20 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 25.51 per cent to Rs 154.04 crore from Rs 122.73 crore in year ago period.

Other Income grew by 8.29 per cent at Rs 2.35 crore versus (Sep'20 Rs 2.17 crore).

Operating Profit surged by 5.15 per cent to Rs 63.96 crore as against Rs 60.83 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 11.23 per cent in September quarter.

Interest grew by 35.77 per cent y-o-y to Rs 10.78 crore, while Taxation decreased by 17.66 per cent at Rs 7.88 crore (Sep'20 Rs 9.57 crore).