Apar Industries reported a steep drop in net profit for the quarter ending March 31, while Maximus International and Continental Petroleums posted higher net profits for the quarter, compared to year-earlier results.
Indian transformer oil supplier Apar Industries reported net profit of 26.3 crore rupees (Rs 263 million or U.S. $3.5 million) for the three months ending March 31, dropping 46 percent from Rs 48.9 crore in the same period last year. For the full fiscal year, the company posted a net profit of Rs 139 crore, down 6 percent from Rs 147.1 crore in the previous fiscal year.
Revenues from Apar’s transformer and specialty oil segment fell to Rs 445 crore for the quarter, down 26 percent from Rs 604.5 crore. For the full fiscal year, the segment’s revenue reached Rs 1,924.9 crore, down 14 percent from Rs 2,247.6 crore.
Maximus International Ltd. reported consolidated net profit of Rs 1 crore for the quarter, edging up from Rs 0.95 crore (Rs 9.5 million) in the year-earlier period. Net profit for its full fiscal year reached Rs 2.7 crore, up 42 percent from Rs 1.9 crore.
The Vadodara, Gujarat-based Indian company said consolidated revenue from operations declined to Rs 11.8 crore for the quarter, down 12 percent from Rs 13.4 crore. For the full fiscal year, consolidated revenue from operations reached Rs 30.7 crore, down 46 percent from Rs 57.3 crore.
The lubes and base oils trader said in a regulatory filing that other income for the quarter totaled Rs 4.1 million, down 31 percent from Rs 5.9 million. For the full fiscal year, other income amounted to Rs 1.3 crore, up slightly from the previous year.
Total expenses for the quarter fell to Rs 11 crore, down 13 percent from Rs 12.7 crore. For the full fiscal year, total expenses declined to Rs 28.9 crore, down from Rs 55.2 crore.
Jaipur, India-based lubricant and grease seller Continental Petroleums Ltd. reported that its net profit jumped 197 percent to Rs 8.6 million (U.S. $114,000) in the quarter that ended March 31, up from Rs 2.9 million in the year-earlier period. For the full fiscal year, net profit increased 88 percent to Rs 13.5 million, up from Rs 7.2 million.
Total revenue increased to Rs 13 crore, up 3 percent from Rs 12.6 crore. For the full fiscal year, total revenue reached Rs 42.6 crore, down 15 percent from Rs 49.9 crore.
Total expenses for the quarter declined to Rs 11.7 crore, down 4 percent from Rs 12.2 crore. Expenses for the full fiscal year reached Rs 40.7 crore, down 17 percent from Rs 48.8 crore.