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News Details

( As on 08/08/2024 18:00)

Confidence Petroleum Q1 net profit down 51.60% at Rs 14.04 cr

The company reported standalone net profit of Rs 14.04 crore for the quarter ended June 30, 2024 as compared to Rs 29.01 crore in the same period last year, registering a year-on-year decline of 51.60 per cent.

Net revenue of the company declined marginally by 4.01 per cent at Rs 771.13 crore in April-June quarter of this fiscal as against Rs 803.36 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 4.67 per cent to Rs 704.31 crore from Rs 738.80 crore in year ago period.

Other Income grew by 1197.50 per cent at Rs 5.19 crore versus (Jun'23 Rs 0.40 crore).

Operating Profit surged by 3.50 per cent to Rs 66.82 crore as against Rs 64.56 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 7.84 per cent in June quarter.

Interest grew by 206.63 per cent y-o-y to Rs 15.73 crore, while Taxation decreased by 48.69 per cent at Rs 4.91 crore (Jun'23 Rs 9.57 crore).