Arihant's Securities Reports Turnaround with Rs 10.36 Lakh Profit in Q1
Arihant's Securities Limited, a Chennai-based financial services company, reported a significant turnaround in Q1 financial results. The company posted a net profit of Rs 10.36 lakhs, compared to a loss of Rs 138.06 lakhs in the previous quarter. Total income reached Rs 30.41 lakhs, with Rs 1.16 lakhs from operations and Rs 29.25 lakhs from other income. Total expenses were Rs 16.60 lakhs. The company's primary revenue source was dividend income. A contingent liability of Rs 19.17 lakhs related to an income tax demand is under appeal.
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Arihant's Securities Limited , a Chennai-based financial services company, has reported a significant turnaround in its financial performance for the first quarter. The company's board of directors approved the unaudited financial results, revealing a notable improvement in profitability.
Financial Highlights
- Net Profit: Rs 10.36 lakhs, compared to a loss of Rs 138.06 lakhs in the previous quarter
- Total Income: Rs 30.41 lakhs, including revenue from operations and other income
- Revenue from Operations: Rs 1.16 lakhs, primarily from dividend income
- Total Expenses: Rs 16.60 lakhs
Detailed Financial Performance
| Particulars | Q1 (Rs in lakhs) | Q4 (Rs in lakhs) |
|---|---|---|
| Revenue from Operations | 1.16 | 8.75 |
| Other Income | 29.25 | (105.41) |
| Total Income | 30.41 | (96.66) |
| Employee Benefits Expense | 1.31 | 1.95 |
| Other Expenses | 2.25 | 5.00 |
| Total Expenses | 16.60 | 20.00 |
| Profit/(Loss) Before Tax | 13.81 | (116.70) |
| Net Profit/(Loss) | 10.36 | (138.06) |
Key Points
- The company's primary source of revenue was dividend income, amounting to Rs 1.16 lakhs.
- Other income significantly contributed to the total income, reaching Rs 29.25 lakhs.
- Employee benefits expense stood at Rs 1.31 lakhs, while other expenses were Rs 2.25 lakhs.
- The company has a contingent liability of Rs 19.17 lakhs related to an income tax demand for the assessment year 2012-13, which is currently under appeal.
Compliance and Audit
The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, except for Ind AS 109 Financial Instruments. The statutory auditors, N R Krishnamoorthy & Co, conducted a limited review of the financial results and found no material misstatements.
Board Meeting Details
The board meeting to approve these results was held on July 31, commencing at 16:00 hours and concluding at 16:30 hours. The results were subsequently submitted to the Bombay Stock Exchange in compliance with SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
Arihant's Securities Limited's turnaround from a loss in the previous quarter to a profit demonstrates a positive shift in the company's financial performance. Investors and stakeholders will likely be watching closely to see if this trend continues in the coming quarters.
Historical Stock Returns for Arihants Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.21% | -1.63% | +5.50% | -15.83% | -27.56% | +293.99% |
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