homemarket Newsstocks NewsBorosil Renewables in the red as net profit, margin decline in June quarter
Borosil Renewables in the red as net profit, margin decline in June quarter
Borosil Renewables posted weak earnings for the June-ended quarter with profit after tax down 25 percent for the company while margin has seen a sharp contraction coming in at 28 percent versus 45 percent last year owing to surging expenses.
Borosil Renewables posted weak earnings for the June-ended quarter with profit after tax down 25 percent for the company while margin has seen a sharp contraction coming in at 28 percent versus 45 percent last year owing to surging expenses.
Speaking to CNBC-TV18 after the earnings report, Pradeep Kheruka, chairman of the company said that a 9 percent lower production led to a lower margin in Q1FY23.
“During the current quarter, which we are running now, the cost should not be much different and the production is going to be healthier. The demand is extremely robust. Therefore, there is no issue with selling and with high production, things look better,” he said.
For the entire interview, watch the accompanying video
(Edited by : Abhishek Jha)
First Published: Aug 11, 2022 1:09 PM IST
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