7NR Retail Reports Turnaround with ₹36.40 Lakh Net Profit in Q2

7NR Retail Limited , a company listed on the BSE, has announced its unaudited financial results for the quarter ended September 30, showcasing a significant turnaround in its performance.

Financial Highlights

The company reported a net profit of ₹36.40 lakhs for Q2, marking a substantial improvement from the net loss of ₹10.37 lakhs in the previous quarter. This positive shift in profitability demonstrates the company's ability to navigate challenging market conditions and implement effective strategies.

Particulars (in ₹ lakhs)	Q2	Q1	Q2 PY	H1	H1 PY
Revenue from Operations	537.62	495.31	200.00	1032.93	604.72
Total Income	541.09	508.08	136.36	1049.17	584.44
Net Profit/(Loss)	46.93	(10.49)	(57.01)	36.44	(107.65)
EPS (Basic & Diluted) (₹)	0.17	(0.04)	(0.20)	0.13	(0.38)

Revenue Growth

7NR Retail's total income for Q2 stood at ₹541.09 lakhs, up from ₹508.08 lakhs in the previous quarter. This represents a quarter-on-quarter growth of approximately 6.5%. The company's revenue from operations also saw an increase, rising to ₹537.62 lakhs in Q2 from ₹495.31 lakhs in Q1.

Half-Year Performance

For the half-year period ended September 30, 7NR Retail achieved a net profit of ₹36.44 lakhs, a significant improvement compared to a net loss of ₹107.65 lakhs in the corresponding previous period. This turnaround indicates the company's successful implementation of cost-control measures and revenue enhancement strategies.

Balance Sheet Strength

As of September 30, the company's total assets stood at ₹4,625.50 lakhs. The equity share capital remained constant at ₹2,800.68 lakhs, reflecting stability in the company's capital structure.

Management Approval

The financial results were approved by the Board of Directors in their meeting held on November 12, demonstrating the management's confidence in the company's financial performance and future prospects.

Conclusion

7NR Retail Limited's Q2 results showcase a positive trend in the company's financial health, with improvements in both top-line and bottom-line figures. The turnaround from loss to profit indicates effective management strategies and potentially improved market conditions for the retail sector. Investors and market observers will likely keep a close watch on the company's performance in the coming quarters to assess the sustainability of this positive momentum.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.25%	-3.34%	-3.80%	-54.24%	-37.21%	-43.28%

7NR Retail Limited, a textile trading company, has reported its financial results for the first quarter, along with key board decisions including new appointments.

Financial Performance

The company reported a net loss of ₹10.50 lakhs for the quarter, an improvement from the loss of ₹50.64 lakhs in the same quarter last year. Revenue from operations increased to ₹495.31 lakhs, up from ₹404.72 lakhs year-over-year, representing a growth of 22.4%.

Particulars (in ₹ lakhs)	Q1	Q1 (Previous Year)	% Change
Revenue from Operations	495.31	404.72	22.4%
Net Loss	(10.50)	(50.64)	79.3%
Earnings per Share (₹)	(0.04)	(0.18)	79.6%

The company's total income for the quarter stood at ₹508.07 lakhs, which included other income of ₹12.76 lakhs. The earnings per share for the quarter improved to -₹0.04 from -₹0.18 in the corresponding quarter of the previous year.

Board Decisions and Appointments

In a board meeting held on August 6, 7NR Retail made several key decisions:

New Independent Director: The board appointed Ms. Krishna Hareshbhai Bhatt as an Additional Non-Executive and Independent Director for a term of 5 years, effective August 6, subject to shareholder approval. Ms. Bhatt is a qualified Company Secretary with over 5 years of experience in corporate law, secretarial compliance, governance, and finance.
Secretarial Auditor: M/S Jay Pandya & Associates, Practicing Company Secretaries, were appointed as the Secretarial Auditor for a term of 5 years, pending shareholder approval. The firm specializes in company law, securities laws, and corporate governance services.
Committee Reconstitution: Following the new appointment, the board reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee.

Annual General Meeting

The company announced that its 13th Annual General Meeting (AGM) will be held on Wednesday, September 10, at 04:00 P.M. through Video Conferencing / Other Audio-Visual Means (OVAM) in accordance with applicable regulatory circulars.

7NR Retail Limited continues to operate primarily in the textile trading segment. The company's management and newly appointed independent director are expected to focus on improving financial performance and strengthening corporate governance in the coming quarters.