Gujarat Intrux Reports Q1 Growth, Changes Auditors
Gujarat Intrux Limited, a steel casting manufacturer, reported a 107.30% year-over-year increase in total revenue for Q1, reaching Rs. 1,354.44 lakhs. However, net profit decreased by 81.60% to Rs. 194.75 lakhs. The company's statutory auditor, M/s. Parin Patwari & Co., resigned, and M/s. K.P. Rachchh & Co. was appointed as the new secretarial auditor for five years, pending shareholder approval.
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Gujarat Intrux Limited , a steel and alloy steel casting manufacturer, has announced its financial results for the first quarter, showing significant year-over-year growth in revenue. The company also reported changes in its auditing team.
Financial Performance
For the quarter ended June 30, Gujarat Intrux reported:
| Particulars (in Rs. lakhs) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Total Revenue | 1,354.44 | 653.37 | 107.30% |
| Net Profit After Tax | 194.75 | 1,059.32 | -81.60% |
| Earnings Per Share (Rs.) | 5.67 | N/A | N/A |
The company's total revenue more than doubled compared to the same quarter last year, rising from Rs. 653.37 lakhs to Rs. 1,354.44 lakhs, marking a robust 107.30% year-over-year increase. However, net profit after tax saw a significant decrease of 81.60%, reaching Rs. 194.75 lakhs compared to Rs. 1,059.32 lakhs in the previous year's corresponding quarter.
Earnings per share (EPS) for the quarter stood at Rs. 5.67. The comparative EPS for the previous year's quarter was not provided in the given information.
Corporate Developments
In addition to its financial results, Gujarat Intrux announced several corporate changes:
Auditor Resignation: M/s. Parin Patwari & Co., Chartered Accountants, resigned as the statutory auditor effective July 22. The resignation was due to the auditor's decision to discontinue their proprietorship firm.
New Secretarial Auditor: The company appointed M/s. K.P. Rachchh & Co., Practicing Company Secretaries, as the new secretarial auditor for a period of five consecutive years, subject to shareholder approval at the upcoming Annual General Meeting.
Company Overview
Gujarat Intrux Limited operates in the steel and alloy steel casting manufacturing sector and is based in Rajkot, Gujarat. The company continues to focus on its core business operations while adapting to changes in its corporate structure.
Investors and stakeholders are advised to monitor further announcements from the company regarding the appointment of a new statutory auditor and the upcoming Annual General Meeting where the appointment of the new secretarial auditor will be put to vote.
Historical Stock Returns for Gujarat Intrux
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.25% | +4.18% | +7.92% | -11.91% | -9.83% | +395.77% |
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