Rico Auto Industries disclosed a substantial drop in standalone net profit for the quarter ended December 2015. During the quarter, the profit of the company declined 95.12% to Rs 87.60 million from Rs 1,794.30 million in the same quarter last year.
Revenues for the quarter rose 9.60% to Rs 2,295.10 million, compared with Rs 2,094 million for the prior year period.
Total expenses as a percent of revenues decreased to 94.77 percent from 102.05 percent in the same period last year. This has led to an improvement of 729 basis points in operating margin to 5.23 percent.
Operating margin for the quarter stood at positive 2.05 percent as compared to a negative 2.05 percent for the previous year period. Operating Income for the quarter was Rs 120.10 million, compared with an operating loss of Rs 43.00 million in the previous year period.
Earnings per share for the quarter stood at Rs 0.65, registering 95.10% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Dec - 15 | Dec - 14 | %Change |
| Revenues | 2,295.10 | 2,094.00 | 9.60 |
| Net Profit | 87.60 | 1,794.30 | (95.12) |
| Diluted EPS | 0.65 | 13.26 | (95.10) |
Shares of the company gained Rs 0.35, or 0.91%, to settle at Rs 38.65. The total volume of shares traded was 53,665 at the BSE (Friday).
