BackVideocon Industries Sep quarter profit falls to Rs1.34 cr
Videocon reported a sharp decline in profit from Rs20.18 cr in the year-ago period due to higher finance cost
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New Delhi: Videocon Industries Ltd on Saturday reported a steep decline in its stand-alone net profit to ₹ 1.34 crore for the quarter ended 30 September on account of higher “finance cost". The company had posted a stand-alone net profit of ₹ 20.18 crore in the year-ago period.
Net sales increased marginally to ₹ 3,187.31 crore during the quarter under review against ₹ 3,176.20 crore in the year-ago quarter. The company had a finance cost of ₹ 585.67 crore during the quarter against ₹ 581.06 crore in the same quarter of last fiscal.
Revenue from consumer electronics and home appliances division increased 3.44% year-on-year to ₹ 2,891.65 crore during the September quarter. However, revenue from crude oil and natural gas segment declined 21.19% annually to ₹ 303.62 crore.
The company is having an extended financial year. “The current accounting year of the company has been extended by a period of six months. As such, the current accounting year shall be of the period of 18 months ending on 31 December 2014," the company said. PTI
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