Dhanashree Electronics Reports 176% Surge in Q1 Profit, Revenue Up 82%
Dhanashree Electronics Limited announced significant financial growth for Q1 FY2023-24. Net profit increased by 176% year-on-year to Rs 105.40 lakh, while revenue from operations grew 82% to Rs 2,557.05 lakh. The company's EPS stood at Rs 0.74. Despite strong year-on-year performance, there was a sequential decline in revenue from the previous quarter. The results were reviewed by the Audit Committee and approved by the Board of Directors.
*this image is generated using AI for illustrative purposes only.
Dhanashree Electronics Limited, a leading player in the electronics industry, has reported a substantial increase in its financial performance for the quarter ended June 30. The company's unaudited standalone financial results, approved by the Board of Directors, reveal significant growth in both revenue and profitability.
Financial Highlights
- Net Profit: Rs 105.40 lakh vs Rs 38.19 lakh (YoY)
- Revenue from Operations: Rs 2,557.05 lakh vs Rs 1,404.26 lakh (YoY)
- Earnings Per Share (EPS): Rs 0.74
Dhanashree Electronics witnessed a remarkable 176% year-on-year increase in net profit, rising from Rs 38.19 lakh to Rs 105.40 lakh. The company's revenue from operations also saw a substantial growth of 82%, reaching Rs 2,557.05 lakh compared to Rs 1,404.26 lakh in the same quarter of the previous year.
Quarterly Performance
While the year-on-year growth is impressive, it's worth noting that the company experienced a sequential decline in revenue compared to the preceding quarter. Revenue from operations decreased from Rs 4,168.60 lakh in the previous quarter to Rs 2,557.05 lakh in the current quarter.
Financial Position
The company's financial statement provides additional insights into its performance:
| Particulars | Current Quarter (Rs in Lakh) | Previous Quarter (Rs in Lakh) | Year Ago Quarter (Rs in Lakh) |
|---|---|---|---|
| Revenue from Operations | 2,557.05 | 4,168.60 | 1,404.26 |
| Total Income | 2,557.85 | 5,406.01 | 1,405.75 |
| Total Expenses | 2,420.93 | 5,200.24 | 1,359.75 |
| Profit Before Tax | 136.92 | 205.77 | 46.00 |
| Net Profit | 105.40 | 147.07 | 38.19 |
Management Commentary
The company's management has not provided specific comments on the results. However, the significant year-on-year growth in both revenue and profit suggests strong market demand for Dhanashree Electronics' products and effective cost management.
Audit Review
The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. M/s Surana Sunil & Co, Chartered Accountants, the statutory auditors of the company, conducted a limited review of these results.
Conclusion
Dhanashree Electronics Limited has demonstrated robust financial performance in the current quarter, with substantial growth in both revenue and profitability compared to the same period last year. While there has been a sequential decline in revenue, the overall year-on-year growth paints a positive picture of the company's market position and operational efficiency.
Investors and stakeholders will likely be watching closely to see if the company can maintain this growth trajectory in the coming quarters, especially in light of the sequential revenue decline observed in the current quarter.
Historical Stock Returns for Dhanashree Electronics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.00% | +10.36% | +53.69% | +501.71% | +507.35% | +2,855.79% |
20
