Alfred Herbert (India) Limited , a company primarily engaged in investing activities, has reported a substantial exceptional gain in its financial results for the first quarter ended June 30. The company's unaudited standalone and consolidated financial results, approved by the Board of Directors on August 7, reveal significant developments and financial performance.

Exceptional Gain from Property Sale

The highlight of the quarter was an exceptional gain of ₹48,047.16 crore (net of transaction costs of ₹430.02 crore) recognized from the sale of the company's immovable property at Whitefield, Bengaluru. This substantial gain has significantly boosted the company's financial performance for the quarter.

Financial Performance

Revenue and Profit

For the quarter ended June 30, Alfred Herbert (India) Limited reported:

• Total revenue from operations: ₹566.68 crore (standalone) and ₹572.59 crore (consolidated)
• Profit after tax: ₹42,471.09 crore (standalone)
• Earnings per share: ₹5,505.51

Segment-wise Performance

The company's revenue from operations includes:

Business Operations

Alfred Herbert (India) Limited operates primarily in investing activities, including:

• Immovable properties
• Fixed deposits
• Securities (equity, bonds, mutual funds)
• Other non-banking financial activities

Consolidated Results

The consolidated results include two wholly-owned subsidiaries:

1. Herbert Holdings Limited
2. Alfred Herbert Limited

Board Meeting and Approval

The Board of Directors approved these results at their meeting held on August 7. The meeting commenced at 10:00 A.M. and concluded at 12:20 p.m.

Auditor's Review

The statutory auditors have carried out a limited review of the financial results as required by SEBI regulations and have given an unmodified conclusion in their report.

Alfred Herbert (India) Limited's exceptional gain from the property sale has significantly impacted its financial performance for the quarter, demonstrating the company's strategic asset management and potential for value creation for its shareholders.

Alfred Herbert (India) Limited , a non-banking financial company, has reported an extraordinary standalone profit of ₹42,471.09 crore for the quarter ended June 30, compared to a loss of ₹35.41 crore in the same quarter last year. This remarkable turnaround was primarily driven by exceptional items worth ₹48,047.16 crore from the sale of immovable property at Whitefield, Bengaluru.

Financial Highlights

Property Sale Boosts Profits

The exceptional performance was largely attributed to the sale of the company's immovable property in Whitefield, Bengaluru. This strategic divestment resulted in an extraordinary gain, significantly impacting the company's bottom line for the quarter.

Core Business Operations

Alfred Herbert (India) Limited primarily operates in investing activities, including investments in immovable properties, fixed deposits, securities such as equity, bonds, mutual funds, and other non-banking financial activities.

Management Commentary

The company's board of directors approved the unaudited financial results in a meeting held on August 7. The meeting commenced at 10:00 A.M. and concluded at 12:20 p.m.

Investor Considerations

Investors should note that this exceptional profit is largely due to the one-time gain from the property sale. Future quarters may see a normalization of profits as the company returns to its core operations.

Alfred Herbert (India) Limited continues to focus on its investment activities and non-banking financial operations. The company's performance in upcoming quarters will provide a clearer picture of its ongoing operational efficiency and growth strategies.