• Sales for the quarter were higher by 19% (to Rs 108.20 crore) but the value of production was lower by 4% to Rs 96.71 crore. Sales higher than value of production for the quarter is largely due to liquidation of earlier period works.

• Operating profit for the quarter was higher by 18% largely due to higher sales as the operating profit margin stay flat at 7.4%.

• Other income was higher by 140% to Rs 0.94 crore, the interest cost was lower by 4% to Rs 3.18 crore and the depreciation was lower by 33% to Rs 1.26 crore. Thus the PBT was up by 127% to Rs 4.51 crore.

• The taxation jumped up by 202% to Rs 1.60 crore in absolute terms. The tax rate too was higher at 35.5% compared to 26.7% in the corresponding previous period.

Half yearly performance

Sales were higher by 10% to Rs 200.84 crore and with 80 bps expansion in OPM, the operating profit was up by 23% to Rs 15.46 crore. The other income was up by 102% to Rs 0.96 crore. The interest cost was higher by 14% to Rs 7.65 crore and depreciation was lower by 7% to Rs 2.49 crore. Thus the PBT was up by 71% to Rs 6.28 crore. After accounting for higher taxation (up 107% to Rs 2.19 crore) the net profit was up by 56% to Rs 4.09 crore.

The stock hovers around Rs 170.