Asian Petroproducts & Exports Reports Quarterly Profit of ₹13.73 Lakhs
Asian Petroproducts & Exports Limited (APEL) reported a profit of ₹13.73 lakhs for Q1 FY24, compared to a loss of ₹26.32 lakhs in Q1 FY23. Revenue from operations surged to ₹471.10 lakhs from nil in the previous year. Total income increased to ₹508.11 lakhs, up from ₹0.25 lakhs. Earnings per share improved to ₹0.06 from negative ₹0.30. The company's paid-up equity share capital rose to ₹2,455.79 lakhs from ₹866.75 lakhs. Auditors noted that GST and TDS compliance is subject to reconciliation.
*this image is generated using AI for illustrative purposes only.
Asian Petroproducts & Exports Limited (APEL) has reported a significant turnaround in its financial performance for the quarter ended June 30. The company's board approved the unaudited financial results, revealing a profit of ₹13.73 lakhs compared to a loss of ₹26.32 lakhs in the same quarter last year.
Financial Highlights
- Revenue from Operations: ₹471.10 lakhs vs Nil (previous year)
- Total Income: ₹508.11 lakhs vs ₹0.25 lakhs (previous year)
- Profit After Tax: ₹13.73 lakhs vs Loss of ₹26.32 lakhs (previous year)
- Earnings Per Share: ₹0.06 vs Negative ₹0.30 (previous year)
Key Financial Metrics
| Particulars (in ₹ Lakhs) | Current Quarter | Previous Year Quarter |
|---|---|---|
| Revenue from Operations | 471.10 | 0.00 |
| Other Income | 37.01 | 0.25 |
| Total Income | 508.11 | 0.25 |
| Purchases of Stock-in-Trade | 467.87 | 0.00 |
| Employee Benefits Expense | 16.16 | 14.25 |
| Total Expenses | 494.38 | 26.57 |
| Profit/(Loss) Before Tax | 13.73 | (26.32) |
Operational Performance
The company witnessed a substantial increase in its revenue from operations, reaching ₹471.10 lakhs in the current quarter, compared to nil revenue in the same quarter of the previous year. This significant growth in revenue contributed to the company's profitability.
Expenses and Cost Management
APEL's major expenses for the quarter included purchases of stock-in-trade at ₹467.87 lakhs and employee benefits expense of ₹16.16 lakhs. The company's total expenses stood at ₹494.38 lakhs, compared to ₹26.57 lakhs in the corresponding quarter last year.
Capital Structure
The company's paid-up equity share capital increased to ₹2,455.79 lakhs from ₹866.75 lakhs in the previous year, indicating a significant change in its capital structure.
Auditor's Note
The statutory auditors, DBS & Associates, Chartered Accountants, noted that statutory compliance with GST and TDS is subject to reconciliation and subsequent adjustment. This emphasis of matter was included in their limited review report.
Board Meeting Details
The board meeting to approve these results was held on August 13, commencing at 2:30 PM and concluding at 3:00 PM. The financial results were reviewed by the Audit Committee before being approved by the Board of Directors.
Asian Petroproducts & Exports Limited's turnaround from a loss to a profit position, coupled with a substantial increase in revenue, marks a positive shift in the company's financial performance for the first quarter.
Historical Stock Returns for Asian Petroproducts & Exports
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -3.24% | -2.66% | -13.15% | -41.93% | +331.02% |
16
