Golden Crest Education & Services Reports Robust Q2 FY2024 Results with 2603% Surge in Net Profit

Golden Crest Education & Services Limited, a consultancy services provider, has announced its unaudited financial results for the second quarter and half year ended September 30, 2024, showcasing a remarkable improvement in its financial performance.

Q2 FY2024 Highlights

• Net profit soared to Rs 10.27 lakhs, a significant increase from Rs 0.38 lakhs in Q2 FY2023
• Net sales rose to Rs 11.20 lakhs, up from Rs 2.00 lakhs in the same quarter last year
• Basic and diluted earnings per share (EPS) stood at Rs 0.20

Half-Year Performance

• Net profit for H1 FY2024 reached Rs 13.41 lakhs, compared to Rs 1.59 lakhs in the previous year
• Total income increased to Rs 23.74 lakhs from Rs 13.20 lakhs year-over-year

Financial Performance Overview

Golden Crest Education & Services Limited has demonstrated a strong financial performance in the second quarter of FY2024. The company's net profit witnessed an extraordinary growth of 2603%, rising from Rs 0.38 lakhs in Q2 FY2023 to Rs 10.27 lakhs in Q2 FY2024. This substantial increase in profitability reflects the company's improved operational efficiency and market positioning.

The company's net sales also showed impressive growth, increasing by 460% year-over-year to reach Rs 11.20 lakhs in Q2 FY2024, compared to Rs 2.00 lakhs in the same quarter of the previous fiscal year. This significant rise in revenue indicates a growing demand for the company's consultancy services.

For the half-year period, Golden Crest Education & Services continued its strong performance. The net profit for H1 FY2024 stood at Rs 13.41 lakhs, marking a substantial increase from Rs 1.59 lakhs reported in the corresponding period of the previous year. Similarly, the total income for the half-year rose to Rs 23.74 lakhs from Rs 13.20 lakhs, representing a year-over-year growth of approximately 80%.

The company reported a basic and diluted earnings per share (EPS) of Rs 0.20 for Q2 FY2024, reflecting the improved profitability on a per-share basis.

Golden Crest Education & Services Limited operates in the consultancy services sector and maintains a paid-up equity share capital of Rs 524.50 lakhs. The company's board of directors, during their meeting on October 25, 2024, also approved amendments to the Related Party Transaction policy and other financial statements, demonstrating their commitment to corporate governance and transparency.

While the company has shown remarkable growth in the short term, it's important to note that the available historical data shows some fluctuations in performance. The income statement data indicates that the company's quarterly performance can be variable, with changes in operating profit margins and net profit figures across different periods.