Explicit Finance , a player in the packaging industry, has reported mixed financial results for the first quarter. The company experienced a decline in revenue but saw an improvement in profitability compared to the same period last year.

Revenue Performance

Explicit Finance reported total revenue from operations of Rs. 627.75 lakhs, down from Rs. 659.38 lakhs in the same quarter of the previous year. This represents a year-on-year decline of 4.80% in the company's top line.

Profitability Improvement

Despite the revenue drop, the company's profitability showed significant improvement:

• Net profit after tax rose to Rs. 1.51 lakhs, compared to Rs. 0.30 lakhs in the same quarter of the previous year.
• Net profit before tax increased to Rs. 7.08 lakhs, up from Rs. 0.30 lakhs in the corresponding period.

Earnings Per Share

The company's earnings per share (EPS) improved to Rs. 0.03, compared to Rs. 0.00 in the same period last year.

Financial Review and Approval

The Board of Directors of Explicit Finance approved these financial results on August 14, following a review by the Audit Committee. The results were prepared in accordance with Indian Accounting Standards.

Conclusion

While Explicit Finance faced challenges in revenue generation during the quarter, the company managed to improve its bottom line significantly. The increase in profitability despite lower revenue suggests potential improvements in operational efficiency or cost management. Investors and stakeholders will likely be watching closely to see if the company can maintain this profit growth while addressing the revenue decline in the coming quarters.

Explicit Finance Limited has announced its unaudited financial results for the first quarter, showing a significant turnaround in profitability. The company also made key appointments to its leadership team and announced details for its upcoming Annual General Meeting (AGM).

Financial Performance

For the quarter, Explicit Finance Limited reported:

• A profit of Rs. 9.93 lakhs, compared to a loss of Rs. 0.51 lakhs in the same quarter last year
• Total income of Rs. 89.37 lakhs, down from Rs. 132.00 lakhs in the previous year's quarter
• Earnings per share (EPS) of Rs. 0.11, compared to a loss per share of Rs. 0.10 in the corresponding quarter

The company's financial results demonstrate a notable improvement in profitability despite a decrease in total income. The turnaround can be attributed to effective cost management and improved operational efficiency.

Key Appointments

The Board of Directors has approved two significant appointments:

1. Mr. Narendrasinh Zala (DIN: 06653715) has been appointed as CFO cum Executive Director. Mr. Zala brings 20 years of rich experience in finance and related activities, holding an MBA in Finance.

2. Ms. Neelam Bhanushali (DIN: 09744140) has been appointed as an Independent Director. Ms. Bhanushali holds an MBA in Corporate Secretaryship and a Bachelor of Laws degree, bringing valuable experience to the board.

Annual General Meeting

Explicit Finance Limited has scheduled its 31st Annual General Meeting for September 30, at 9:30 am. The meeting will be held at 101, Lotus Business Complex, Near Vasai Phata, Vasai(E), Palghar- 401208. Key dates related to the AGM include:

• August 29: Cut-off date for dispatch of AGM notice
• September 23: Cut-off date for e-voting eligibility
• September 23-30: Book closure period

The company has appointed M/s Vishal Manseta, Company Secretaries, as the scrutinizer for conducting the e-voting and poll process for the AGM.

Financial Highlights

Here's a breakdown of the company's financial performance for the quarter:

The company's performance shows a significant improvement in profitability, with a reduction in expenses outpacing the decline in revenue.

Investors and stakeholders are advised to refer to the company's official communications for more detailed information on its financial performance and corporate actions.