East Buildtech Limited Reports Q1 Loss of Rs 13.39 Lacs Amid Revenue Decline

East Buildtech Limited , a company operating in the real estate, consultancy, and trading sectors, has reported a significant downturn in its financial performance for the first quarter. The company's unaudited financial results, approved by the Board of Directors on August 14, reveal a stark contrast to its performance in the same period last year.

Financial Highlights

• Net Loss: The company reported a net loss of Rs 13.39 lacs for the quarter ended June 30, a sharp decline from a profit of Rs 25.43 lacs in the corresponding quarter of the previous year.
• Revenue: Revenue from operations saw a substantial decrease, falling to Rs 3.63 lacs from Rs 45.25 lacs year-over-year.
• Expenses: Total expenses stood at Rs 17.22 lacs against a total revenue of Rs 3.65 lacs, indicating a significant cost burden.
• Earnings Per Share (EPS): The EPS turned negative at Rs (0.71) compared to a positive Rs 1.35 in the same quarter last year.

Segment-wise Performance

East Buildtech operates through three segments: Real Estate/Construction, Consultancy, and Trading. The segment-wise results show:

Balance Sheet Position

As of June 30, the company's financial position shows:

• Paid-up Equity Share Capital: Remained unchanged at Rs 190.76 lacs.
• Total Capital Employed: Stood at Rs 661.31 lacs, a slight decrease from Rs 666.24 lacs in the same period last year.

Auditor's Review

Suresh Kumar Mittal & Co., the statutory auditors, have conducted a limited review of the financial results. They have issued an unqualified opinion, stating 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 other recognized accounting practices and policies.

Conclusion

East Buildtech Limited's Q1 results indicate a challenging period for the company, with significant declines in revenue and profitability across its business segments. The consultancy segment, which was a major contributor last year, reported a loss this quarter, in contrast to a profit in the previous year's quarter. Investors and stakeholders will likely be watching closely to see how the company plans to address these challenges and improve its performance in the coming quarters.

The company's board meeting, which approved these results, was held on August 14, commencing at 4:00 PM and concluding at 4:30 PM. The full financial results have been submitted to the BSE Ltd in compliance with SEBI regulations.