Banas Finance Limited Reports Substantial Quarterly Loss
Banas Finance, a financial services company, has reported a substantial loss in its Q1 FY2023 results. The company posted a net loss of ₹5,725.19 lakhs, compared to a profit of ₹321.31 lakhs in Q1 FY2022. Total revenue for the quarter stood at ₹775.35 lakhs. The loss per share was ₹22.32, reflecting the impact on shareholder value. The company's paid-up share capital remained unchanged at ₹2,564.87 lakhs. These results were published in Financial Express and Mumbai Lakshadweep newspapers on August 12, 2022.
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Banas Finance , a financial services company, has reported a significant loss in its latest quarterly results, as disclosed in a recent filing to the Bombay Stock Exchange.
Financial Performance Highlights
The company's unaudited standalone and consolidated financial results for the quarter ended June 30, 2022, reveal a challenging period:
| Metric | Q1 FY2023 | Q1 FY2022 |
|---|---|---|
| Total Revenue | 775.35 | Not provided |
| Net Profit/(Loss) | (5,725.19) | 321.31 |
| Earnings Per Share (Basic & Diluted) | (22.32) | Not provided |
All financial figures are in ₹ lakhs, except for Earnings Per Share
Key Takeaways
Revenue Generation: Banas Finance reported a total revenue of ₹775.35 lakhs for the quarter.
Substantial Loss: The company posted a net loss of ₹5,725.19 lakhs after tax and exceptional items, marking a significant downturn from the profit of ₹321.31 lakhs recorded in the same quarter of the previous year.
Earnings Per Share: The loss per share stood at ₹22.32 for both basic and diluted calculations, reflecting the impact of the quarterly loss on shareholder value.
Capital Structure: The paid-up share capital remained steady at ₹2,564.87 lakhs.
Transparency and Disclosure
In compliance with regulatory requirements, Banas Finance published its financial results in two newspapers on August 12, 2022:
- Financial Express (English)
- Mumbai Lakshadweep (Marathi)
This publication ensures wide dissemination of the company's financial information to stakeholders and the general public.
The substantial shift from profit to loss in the year-over-year comparison indicates a challenging quarter for Banas Finance. Stakeholders and market analysts will likely be keen to understand the factors contributing to this significant downturn and any strategies the company plans to implement to address these challenges in the coming quarters.
Historical Stock Returns for Banas Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.21% | +3.60% | +6.98% | +10.34% | -6.77% | +413.51% |
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