NewsEarningsAmalgamated Electricity Company Reports ₹5.35 Lakh Loss in Q1; Announces Key Management ChangesAmalgamated Electricity Company Reports ₹5.35 Lakh Loss in Q1; Announces Key Management Changes
Amalgamated Electricity reported a loss of ₹5.35 lakh for Q1 ended June 30, slightly higher than the previous year's Q1 loss. The company appointed Gaurav Sakpal as new Company Secretary & Compliance Officer, while Shreekant Kudtarkar resigned from the same position. V.M. Satyan will cease to be an Independent Director from September 24. The 90th Annual General Meeting is scheduled for September 30. No investor complaints were reported for the quarter.
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Amalgamated Electricity has reported its financial results for the first quarter, along with significant management changes and corporate updates.
Financial Performance
The company reported no revenue for the quarter ended June 30, and incurred a loss of ₹5.35 lakh. This loss is slightly higher compared to the ₹5.26 lakh loss reported in the same quarter of the previous year. The company's expenses increased to ₹5.35 lakh from ₹1.58 lakh in the previous quarter.
| Particulars (₹ in Lakh) | Q1 | Q4 | Q1 (Previous Year) |
|---|---|---|---|
| Revenue | 0.00 | 0.00 | 0.00 |
| Expenses | 5.35 | 1.58 | 5.26 |
| Profit/(Loss) | (5.35) | (5.33) | (5.26) |
Corporate Updates
The Board of Directors, in their meeting held on August 12, approved the unaudited financial results for the quarter ended June 30. They also made several key decisions and announcements:
Annual General Meeting: The 90th Annual General Meeting of the company is scheduled for September 30.
Management Changes:
- Mr. Gaurav Sakpal has been appointed as the new Company Secretary & Compliance Officer, effective August 12. Mr. Sakpal is an associate member of the Institute of Company Secretaries of India, with a background in law and commerce from Mumbai University.
- Mr. Shreekant Kudtarkar, the previous Company Secretary & Compliance Officer, has resigned from his position, effective August 12.
- Mr. V.M. Satyan has completed his second and final term as an Independent Director and will cease to be a Director of the company from September 24.
Investor Relations: The company reported no pending investor complaints at the beginning or end of the quarter, with no new complaints received during this period.
The financial results were prepared in accordance with the Indian Accounting Standards (IND AS) as prescribed under the Companies Act, 2013. The company's paid-up equity share capital remains unchanged at ₹138.83 lakh.
Investors and stakeholders can access the detailed financial results on the company's website at www.aecl.net.in .
Historical Stock Returns for Amalgamated Electricity
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.99% | +23.93% | +25.52% | +76.92% | +14.82% | +185.27% |
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