Danlaw Technologies India Limited has announced its unaudited financial results for the second quarter and half year ended September 30, 2023, showcasing significant growth in revenue and profitability.

Q2 Performance Highlights

The company reported a robust performance for the quarter ended September 30, 2023:

• Revenue from operations surged to ₹50.05 crores, marking a substantial 31.70% increase from ₹37.99 crores in the corresponding quarter of the previous year.
• Net profit saw a remarkable jump to ₹5.92 crores, compared to ₹1.24 crores in Q2 of the previous fiscal year, representing a 377.42% year-over-year growth.
• Earnings per share (EPS) for the quarter stood at ₹12.15, a significant improvement from ₹2.55 in the same quarter last year.

Half-Year Results

For the six-month period ended September 30, 2023:

• Revenue from operations was reported at ₹75.33 crores, compared to ₹96.44 crores in the previous year's corresponding period.
• The half-yearly revenue showed a decline of 21.89% compared to the same period last year.

Financial Performance Comparison

Corporate Governance

The financial results were approved by Danlaw Technologies India's Board of Directors. The company has also undergone a limited review by its statutory auditors, CSVR & Associates, ensuring compliance with regulatory requirements and maintaining transparency in financial reporting.

Analysis

The significant improvement in Q2 FY2024 results, particularly the 31.70% revenue growth and the substantial increase in net profit, suggests that Danlaw Technologies India Limited is experiencing positive momentum in its business operations. The company's ability to more than quadruple its net profit year-over-year is noteworthy and could be indicative of improved operational efficiency or favorable market conditions.

However, it's important to note the contrast between the quarterly and half-yearly figures. While Q2 showed strong growth, the half-year revenue declined by 21.89% compared to the previous year. This discrepancy suggests that the first quarter of FY2024 was challenging, followed by a strong recovery in Q2.

As Danlaw Technologies India Limited continues to navigate the dynamic business environment, these results provide a positive outlook for the company's near-term performance. Stakeholders will be watching closely to see if this upward trend in revenue and profitability can be sustained in future quarters.

Danlaw Technologies India Limited , a leading technology company, has reported a strong financial performance for the first quarter, along with key appointments in its auditing team.

Financial Highlights

The company's board of directors approved the unaudited financial results for the quarter ended June 30 during a meeting held on August 13. Here are the key financial highlights:

Danlaw Technologies India demonstrated robust quarter-on-quarter growth, with revenue from operations increasing by 15.8% to ₹5,477.02 lakhs in Q1, compared to ₹4,730.25 lakhs in the previous quarter. However, there was a year-on-year decline of 12.2% from ₹6,237.25 lakhs in Q1 of the previous year.

The company's profit for the period showed a significant improvement, rising by 51.3% to ₹346.57 lakhs in Q1 from ₹229.00 lakhs in the previous quarter. The basic earnings per share for the quarter stood at ₹7.12.

Auditor Appointments

In addition to the financial results, the board made two key appointments:

1. Cost Auditor: M/s. Sagar & Associates (Firm Registration No. 000118) has been appointed as the Cost Auditor of the company for the upcoming Financial Year. The firm, based in Hyderabad, brings rich experience in cost auditing across various sectors, including pharmaceuticals and manufacturing.

2. Secretarial Auditor: M/s. B V Saravana Kumar, a Practicing Company Secretary, has been appointed as the Secretarial Auditor of the company for a period of five consecutive financial years. This appointment is subject to shareholder approval at the upcoming Annual General Meeting. CS B V Saravana Kumar has 11 years of experience in providing services related to secretarial matters and legal opinions on compliance and procedures under various acts and regulations.

These appointments underscore Danlaw Technologies India's commitment to maintaining high standards of financial reporting and corporate governance.

The company's board meeting, which commenced at 09:00 AM, concluded at 12:20 PM on August 13. The financial results and auditor appointments reflect Danlaw Technologies India's focus on transparency and strategic growth in the technology sector.