Everest Industries, engaged in manufacturing and trading of building products, on Wednesday reported a 43.89 per cent growth in its net profit at Rs 16.95 crore during the first quarter ended June 30, 2017, compared to Rs 11.78 crore in the same quarter last year.
Net sales of the company rose moderately by 8.14 per cent at Rs 378.02 crore for the quarter ended June 30, 2017 as against Rs 349.57 crore in the corresponding period last year.
During Apr-Jun quarter, operating expenses increased by 5.16 per cent to Rs 345.91 crore from Rs 328.95 in year ago period.
Other Income dipped by 57.89 per cent at Rs 1.28 crore versus (Jun’16 Rs 3.04 crore).
Operating Profit surged by 30.63 per cent to Rs 32.11 crore as against Rs 24.58 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 20.77 per cent in Jun quarter.
Interest declined by 9.93 per cent y-o-y to Rs 3.81 crore, while Taxation increased by 7.23 per cent at Rs 5.34 crore (Jun’16 Rs 4.98 crore).