In comparison to the previous year’s debt of Rs 1,976 crore in March 2017, debt for the current year at the end of March 2018 stands at Rs 2,757 crore, a massive 39 percent rise.
Following the news of the company announcing a decline in its net profit and an increase in its debt in the March quarter, the shares of SRF, a chemicals firm lurched by almost 14 percent earlier in today(May 18th).
Given its higher finance and depreciation costs, the company’s net profit for the March quarter fell by 4 percent year on year to Rs 124 crore.
The company did manage to show some positive results as its operating income and revenue from operations grew by 19 percent and 21.5 percent respectively.
Revenue from operations for SRF year on the year came to up-to Rs 1,612 crore while operating income over the same period came up-to Rs 279 crore.
However, for this quarter under review, SRF’s operating profit margin dropped by 17.2 percent, 40 basis points lower than in the same quarter in the previous year of 2017.