Fruition Venture Limited Swings to Profit in Q1, Reports Rs 11.32 Crore Net Profit
Fruition Venture, a diversified company in polymers and other products, has reported a notable financial turnaround for Q1 ended June 30. The company posted a net profit of Rs 11.32 crore, reversing losses from previous periods. Revenue from operations increased to Rs 108.56 crore. The polymers segment generated Rs 21.71 crore, while other products contributed Rs 86.85 crore. Total assets stand at Rs 495.64 crore, with total liabilities at Rs 167.10 crore. The company's EPS improved to Rs 0.34. Statutory auditors have issued an unmodified opinion on the unaudited financial results.
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Fruition Venture , a diversified company operating in the polymers and other products segments, has reported a significant turnaround in its financial performance for the first quarter. The company's board approved the unaudited financial results for the quarter ended June 30, revealing a robust recovery from previous losses.
Financial Highlights
- Net Profit: Rs 11.32 crore, compared to a loss of Rs 9.53 crore in the previous quarter and a loss of Rs 16.92 crore in the same quarter last year.
- Revenue from Operations: Increased to Rs 108.56 crore from Rs 100.71 crore in the previous quarter and Rs 32.68 crore in the corresponding quarter of the previous year.
- Total Comprehensive Income: Rs 13.49 crore for the quarter.
- Earnings Per Share (EPS): Improved to Rs 0.34 from a loss of Rs 0.44 in the previous quarter.
Segment-wise Performance
Fruition Venture operates in two main segments:
- Polymers: Generated revenue of Rs 21.71 crore
- Other Products: Contributed Rs 86.85 crore to the total revenue
Financial Position
| Particulars | Amount (Rs in crore) |
|---|---|
| Total Assets | 495.64 |
| Total Liabilities | 167.10 |
| Paid-Up Equity Share Capital | 400.00 |
Auditor's Review
The statutory auditors, Sunil K Gupta & Associates, have carried out a limited review of the results and issued an unmodified opinion on the unaudited financial results.
Looking Ahead
While the company has shown a remarkable turnaround, it's important to note that these results are for a single quarter. Investors and analysts will likely be watching closely to see if Fruition Venture can maintain this positive momentum in the coming quarters.
The company's diverse operations in polymers and other products seem to have contributed to its improved performance. As the global and domestic economic landscapes continue to evolve, Fruition Venture's ability to adapt and capitalize on market opportunities will be crucial for sustained growth.
Disclaimer: This article is based on the unaudited financial results of Fruition Venture Limited for the quarter ended June 30, as approved by its Board of Directors. Investors are advised to consult financial experts before making any investment decisions.
Historical Stock Returns for Fruition Venture
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.36% | +26.66% | +32.61% | +17.93% | -25.47% | +364.29% |
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