Baroda Rayon Corporation's Q1 Profit Soars 12.7% YoY, Revenue Doubles
Baroda Rayon Corporation Limited (BRCL) reported robust Q1 financial results. Net profit increased by 12.7% to ₹710.23 lakhs, while revenue from operations more than doubled to ₹2,236.00 lakhs. The company's EPS rose to ₹3.10. The Real Estate segment was the primary revenue driver, generating ₹2,244.03 lakhs. The Textiles segment remains suspended since 2008. BRCL continues to have no tax liability due to unabsorbed depreciation and brought forward business losses.
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Baroda Rayon Corporation Limited (BRCL) has reported a robust financial performance for the first quarter, with significant growth in both revenue and profitability.
Financial Highlights
- Net Profit: ₹710.23 lakhs, up 12.7% from ₹630.44 lakhs in the same quarter of the previous year
- Revenue from Operations: ₹2,236.00 lakhs, more than doubled from ₹1,049.00 lakhs year-over-year
- Total Revenue: ₹2,255.82 lakhs, compared to ₹1,184.19 lakhs in the previous year's quarter
- Earnings Per Share (EPS): ₹3.10, increased from ₹2.75 in the corresponding quarter last year
Segment Performance
BRCL operates in two segments:
- Real Estate: This segment, comprising the sale of plots and industrial units, generated revenue of ₹2,244.03 lakhs.
- Textiles: Operational activities in this segment have been suspended since August 2008.
Key Financial Metrics
| Particulars | Q1 (₹ in lakhs) | Q1 Previous Year (₹ in lakhs) | YoY Change |
|---|---|---|---|
| Revenue from Operations | 2,236.00 | 1,049.00 | +113.2% |
| Total Revenue | 2,255.82 | 1,184.19 | +90.5% |
| Net Profit | 710.23 | 630.44 | +12.7% |
| Basic Earnings Per Share (₹) | 3.10 | 2.75 | +12.7% |
Additional Information
- The company's board meeting was held on August 13 to approve the unaudited financial results.
- BRCL continues to have no tax liability due to unabsorbed depreciation and brought forward business losses.
- The Real Estate segment remains the primary revenue driver for the company.
Management Commentary
Damodarbhai Patel, Chairman & Managing Director of BRCL, stated, "Our first quarter results demonstrate strong growth in our real estate segment. We are pleased with the substantial increase in revenue and the improvement in profitability. While our textile segment remains suspended, we continue to explore new avenues to potentially restart operations in this area."
Auditor's Review
Kansariwala & Chevli, the company's statutory auditors, conducted a limited review of the financial results. They reported that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and SEBI regulations.
BRCL's impressive Q1 performance, particularly in its real estate segment, signals a positive start to the fiscal year. Investors and stakeholders will be keenly watching the company's future quarters to see if this growth trajectory can be maintained.
Historical Stock Returns for Baroda Rayon
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.52% | +0.87% | -6.32% | -4.72% | -27.17% | +2,773.92% |
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