Cravatex  announced a  drop in standalone net profit for the quarter ended September 2016.  During the quarter, the profit of the company declined 44.12% to Rs 2.36 million from Rs 4.23 million  in the same quarter last year.

Revenues for the quarter  rose 14.80% to Rs 589.83 million, compared with Rs 514 million for the prior year period.

Operating margin for the quarter stood at 56.50 percent  as compared to 80.94 percent for the previous year period.  Operating Income for the quarter was Rs 333.26 million, compared with Rs 415.84 million in the previous year period.

Earnings per share for the quarter stood at Rs 0.49, registering 70.12% decline over previous year period.