'Megna Electro Castings has registered 24% growth in sales for the quarter ended March 2018 to Rs 25.72 crore. But with 940 bps contraction in operating profit margin, the operating profit was down by 42% to Rs 2.15 crore. However its net profit for the period was up by modest 1% to Rs 2.29 crore. Growth at PAT despite weak operating performance was largely due to higher other income, lower interest cost, lower depreciation and lower tax incidence. But for lower EO income the growth at bottom-line would have been higher than reported.
- Sales was up by 24% to Rs 25.72 crore but the value of production was up by 23% to Rs 25.07 crore. Sale for the quarter higher than value of production reflects liquidation of earlier period stocks.
- The 940 bps crash in operating profit margin to 8.4% was largely on account of sharp rise in material cost. Material cost as proportion to sales net of stocks was higher by 1450 bps to 38.3%. However staff cost was down by 90 bps ...
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