Opto Circuits' net plunges 82.3% to Rs 9 crore in Q1

Total income fell 23% to Rs 313 cr

Bangalore-based healthcare devices maker Opto Circuits (India) Ltd today reported a massive decline of 82.35% in net profit at Rs 9 crore for the first quarter ended June 30, 2014 compared to Rs 51 crore in the corresponding quarter last year.

The net profit took a hit due to higher finance costs and lower than expected sales during the quarter.

The total income of the company went down 22.7% to Rs 313 crore from Rs 405 crore in the year ago quarter. The operating profit too declined 21.8% to Rs 43 crore as against Rs 55 crore.

Opto's shares closed 0.36% lower at Rs 27.95 per share on Bombay Stock Exchange on Tuesday.