Cosmo Films' Q1 consolidated net profit up 69%

New Delhi, Aug 19 Cosmo Films Ltd on Wednesday reported a 69.15 per cent rise in its consolidated net profit for the quarter ended June, at Rs 46.99 crore.

During the corresponding period of last fiscal, the company had reported a consolidated net profit of Rs 27.78 crore.

The total income of the company, however, fell 10.55 per cent to Rs 487.03 crore during the period under review.

In a statement, the company said that it expects that Covid-19 impact may remain only marginal in the following quarters also, barring unforeseen conditions.

Cosmo Films CEO Pankaj Poddar said: "The company shall continue to invest in R&D and grow its specialty film portfolio thereby improving margins."

"The company is also investing in several new initiatives including Artificial Intelligence (AI), Data Mining, Cloud Computing etc which should help to achieve automated paperless processes, lower the operating costs and provide superior service to the customers and other stakeholders."

( With inputs from IANS )