Inox India Reports Dip in Profit Amidst Declining Income

Inox India reported an 8% dip in consolidated profit after tax, recording Rs 52.63 crore for the latest period, down from Rs 57.08 crore the previous year. Total income also fell to Rs 301.77 crore. On a standalone basis, profit fell 2.38% to Rs 53.21 crore. The company manufactures cryogenic equipment, and its shares closed down 3.95% on BSE.

Inox India on Friday announced an 8 per cent decline in its consolidated profit after tax, reporting Rs 52.63 crore.

The company had previously recorded a profit after tax (PAT) of Rs 57.08 crore for the same period last year, according to an exchange filing.

Total income for the period fell to Rs 301.77 crore from Rs 316.96 crore.

On a standalone basis, the company's profit saw a 2.38 per cent decline, falling to Rs 53.21 crore from Rs 54.51 crore a year ago.

Standalone income also decreased, coming down to Rs 297.40 crore from Rs 302.05 crore.

Inox India specializes in the manufacturing of standard and customized cryogenic equipment.

The company's shares closed 3.95 per cent lower, trading at Rs 1,206.05 apiece on BSE.