Ceeta Industries Reports 32% Revenue Growth in Q1, Profit at Rs 31 Lakh
Ceeta Industries Limited, a packaged food products company, announced Q1 financial results with a 32% year-over-year revenue growth to Rs 587.14 lakh. However, profit after tax decreased to Rs 31.00 lakh from Rs 228.43 lakh in the same quarter last year. The packaged food products segment contributed Rs 581.56 lakh to the revenue. Total expenses increased to Rs 569.20 lakh, impacting overall profitability. The company's earnings per share dropped to Rs 0.21 from Rs 1.58 in the previous year.
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Ceeta Industries Limited , a player in the packaged food products sector, has announced its financial results for the first quarter. The company reported a significant increase in revenue but saw a decline in profit compared to the same period last year.
Revenue Growth
Ceeta Industries witnessed a robust 32% year-over-year growth in revenue from operations, which increased to Rs 587.14 lakh from Rs 445.45 lakh in the corresponding quarter of the previous year. The company's total income, including other income, reached Rs 611.20 lakh, up from Rs 475.62 lakh.
Segment-wise Performance
The packaged food products segment, which is the company's primary business, generated revenue of Rs 581.56 lakh, contributing significantly to the overall growth. Other operations contributed Rs 29.64 lakh to the total revenue.
Profit Analysis
Despite the strong revenue growth, Ceeta Industries reported a profit after tax of Rs 31.00 lakh, a substantial decrease from Rs 228.43 lakh in the same quarter last year. This decline in profit can be attributed to increased expenses and the absence of exceptional items that boosted the previous year's results.
Key Financial Metrics
| Particulars (Rs. in Lakh) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue from Operations | 587.14 | 445.45 | +32.0% |
| Total Income | 611.20 | 475.62 | +28.5% |
| Profit Before Tax | 42.00 | 302.65 | -86.1% |
| Profit After Tax | 31.00 | 228.43 | -86.4% |
| Earnings Per Share (Rs.) | 0.21 | 1.58 | -86.7% |
Expenses and Operational Costs
The company's total expenses for the quarter stood at Rs 569.20 lakh, compared to Rs 456.07 lakh in the corresponding quarter of the previous year. Notable increases were observed in the cost of raw materials consumed and other expenses, which could have impacted the overall profitability.
Management Commentary
K.M. Poddar, Managing Director of Ceeta Industries Limited, stated in the company's filing, "The Board of Directors has approved these unaudited financial results for the first quarter, along with a limited review report from our statutory auditors, G.K. Tulsyan & Co."
Conclusion
While Ceeta Industries has demonstrated strong revenue growth, particularly in its core packaged food products segment, the significant decrease in profit highlights potential challenges in managing costs and maintaining profitability.
The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting.
Historical Stock Returns for Ceeta Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.94% | +0.45% | -11.96% | +6.19% | -4.55% | +1,018.78% |
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