Last Updated : May 18, 2018 03:47 PM IST | Source:

SRF shares tank 14% as profit falls on finance & depreciation cost, debt increases

Debt at the end March 2018 stood at Rs 2,757 crore, an increase of 39 percent compared to Rs 1,976 crore in March 2017.

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Shares of chemicals firm SRF plunged by as much as 14 percent on Friday after the company reported a decline in its March quarter net profit and an increase in its debt.

The company's net profit for the March quarter fell 4 percent year on year to Rs 124 crore, dented by higher finance and depreciation costs.

Revenue from operations grew 21.5 percent year on year to Rs 1,612 crore, while operating income increased 19 percent over the period to Rs 279 crore.

However, SRF's operating profit margin contracted to 17.2 percent in the quarter under review, 40 basis points lower than in the same quarter last year.

The company's debt at the end March stood at Rs 2,757 crore, 39 percent higher than at the end of March 2017.
First Published on May 18, 2018 02:56 pm
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