ITI Limited posts 47 per cent drop in consolidated profit at Rs 364.6 million during QE March 2020

ITI Limited has reported a 47 per cent year-on-year (YoY) drop in its consolidated profit at Rs 364.6 million during quarter ended (QE) March 2020 from Rs 687.4 million in QE March 2019.

Further, the company posted an increase of 2.4 per cent in its consolidated revenue to Rs 6.62 billion in QE March 2020 from Rs 6.46 billion in the same period a year ago.

Meanwhile, ITI Limited’s year on year (YoY) revenue rose from Rs 20.04 billion in year ended March 2019 to Rs 22.42 billion in 2020.

The company expects revenue contribution from manufacturing to double in the current fiscal.