NewsEarningsCubical Financial Services Reports 31% Profit Surge, Appoints New Independent DirectorCubical Financial Services Reports 31% Profit Surge, Appoints New Independent Director
Cubical Financial Services Limited announced a 30.97% increase in net profit to ₹7.02 lakhs for Q1, with total revenue up 10.35% to ₹27.29 lakhs. The company appointed Mr. Ram Gopal Dalmia as an Additional Director (Non-Executive Independent) for a five-year term. Additionally, the firm made key auditing appointments, including Magna Capital Advisors as Internal Auditor, Mukesh Agarwal & Co. as Secretarial Auditors, and Krishan Rakesh & Co. as Statutory Auditors, all for five-year terms subject to shareholder approval.
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Cubical Financial Service Limited has announced a significant increase in its net profit for the quarter ended June 30, along with key changes to its board and auditing structure.
Financial Performance
The company reported a net profit of ₹7.02 lakhs for the quarter, marking a substantial 30.97% increase from ₹5.36 lakhs in the same quarter last year. Total revenue saw a 10.35% growth, reaching ₹27.29 lakhs, driven entirely by interest income.
Key financial highlights for the quarter include:
| Metric | Q1 | Q1 (Previous Year) | Change |
|---|---|---|---|
| Net Profit | ₹7.02 lakhs | ₹5.36 lakhs | +30.97% |
| Total Revenue | ₹27.29 lakhs | ₹24.73 lakhs | +10.35% |
| Operating Profit Margin | 31.99% | - | - |
| Net Profit Margin | 25.72% | - | - |
Board Appointment
In a strategic move to strengthen its governance, Cubical Financial Services has appointed Mr. Ram Gopal Dalmia as an Additional Director in the category of Non-Executive Independent Director. The appointment is for a five-year term from August 11, subject to shareholder approval.
Mr. Dalmia, a 72-year-old chartered accountant, brings extensive knowledge in finance, tax, and accounting to the board. The company has confirmed that he is not related to any existing directors and satisfies the criteria of independence as prescribed under the Companies Act, 2013 and SEBI LODR regulations.
Auditor Appointments
The Board of Directors has also made several key appointments in its auditing structure:
- M/s. Magna Capital Advisors Private Limited has been appointed as the Internal Auditor.
- M/s. Mukesh Agarwal & Co., Company Secretaries, have been re-appointed as Secretarial Auditors for a term of five consecutive financial years, subject to shareholder approval.
- M/s. Krishan Rakesh & Co. (Firm Reg. No. 009088N), Chartered Accountants, have been appointed as Statutory Auditors for a term of five consecutive financial years, subject to shareholder approval.
These appointments reflect Cubical Financial Services' commitment to maintaining robust financial oversight and corporate governance practices.
The company's strong financial performance, coupled with these strategic appointments, positions Cubical Financial Services for continued growth and enhanced corporate governance in the coming years.
Historical Stock Returns for Cubical Financial Service
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.88% | +1.90% | -10.08% | -8.94% | -4.46% | +120.62% |
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