AVI Products has announced its financial results for the first quarter, reporting a significant downturn in performance compared to the same period last year. The company has also scheduled an analyst and investor conference call to discuss these results.

Financial Performance

AVI Products faced challenging market conditions in Q1, as reflected in its financial results:

The company reported a total income of Rs. 62.56 lacs for the quarter, marking a substantial decrease of 43.9% from Rs. 111.47 lacs in the corresponding quarter of the previous year.

Despite a marginal reduction in total expenses, which stood at Rs. 102.18 lacs compared to Rs. 106.21 lacs in the previous year's Q1, the company was unable to mitigate the impact of reduced income. This resulted in a loss before tax of Rs. 39.62 lacs, a stark contrast to the profit of Rs. 5.26 lacs recorded in the same quarter last year.

The loss after tax for the current Q1 was reported at Rs. 39.62 lacs, compared to a profit of Rs. 3.94 lacs in the previous year's Q1, representing a significant downturn in the company's profitability.

Investor Conference Call

In light of these results, AVI Products has scheduled an analysts and investors conference call on August 16 at 5:00 PM IST. The call aims to discuss the company's financial performance for the quarter in more detail.

Interested parties can join the Zoom meeting using the following details:

• Meeting ID: 823 9287 2055
• Join URL: https://us02web.zoom.us/j/82392872055

Management Statement

While the company has not provided a statement in the available information, investors and analysts will likely seek explanations for the significant decline in revenue and the shift from profit to loss during the upcoming conference call.

The management may be expected to address strategies for improving performance in the coming quarters and any factors that contributed to the challenging Q1 results.

As AVI Products navigates through this period of financial difficulty, stakeholders will be keenly watching for any signs of a turnaround strategy or market conditions that could impact the company's future performance.

AVI Products , a company operating in the E-Commerce, Dental, and Food & Beverages segments, has reported a significant turnaround in its financial performance for the first quarter.

Financial Highlights

The company's unaudited standalone financial results for the quarter reveal a notable improvement in its bottom line. AVI Products India posted a net profit of Rs 3.94 lakh, a substantial recovery from the net loss of Rs 39.62 lakh reported in the same quarter of the previous year.

Total income from operations saw a remarkable increase, rising to Rs 111.47 lakh compared to Rs 62.56 lakh in the corresponding quarter of the previous year, representing a growth of approximately 78%.

Earnings Per Share

The company's improved performance is reflected in its earnings per share (EPS). The basic and diluted EPS for the quarter stood at Rs 0.12, a significant improvement from the negative EPS of Rs 1.20 in the same quarter last year.

Segment Performance

AVI Products India operates in two primary segments:

1. E-Commerce and Dental
2. Food & Beverages

The segment-wise revenue breakdown for the quarter is as follows:

Balance Sheet Overview

The company's financial position shows:

Corporate Governance

The Board of Directors of AVI Products India Limited approved the unaudited financial results for the quarter. Additionally, the board reappointed M/S VKMG & Associates LLP as Secretarial Auditors, demonstrating the company's commitment to maintaining strong corporate governance practices.

Management Commentary

Avinash Dhirajlal Vora, Managing Director of AVI Products India Limited, signed off on the financial results, indicating the management's confidence in the company's performance and future prospects.

The company's turnaround from a loss-making position to profitability, coupled with significant revenue growth, suggests a positive trajectory for AVI Products India Limited.