Kamanwala Housing Construction Reports Rs 2.57 Lakh Net Profit in Q1
Kamanwala Housing Construction Limited reported a net profit of Rs 2.57 lakh in Q1, compared to a loss of Rs 11.43 lakh in the same quarter last year. Total revenue decreased to Rs 57.22 lakh from Rs 67.20 lakh, entirely comprising other income with no operational revenue. Total expenses were Rs 54.03 lakh, with employee benefits being the largest component at Rs 25.33 lakh. The company's EPS improved to Rs 0.02 from negative Rs 0.08. Despite lower revenue, profitability improved due to significant expense reduction. The results were approved by the Board and reviewed by statutory auditors.
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Kamanwala Housing Construction Limited , a real estate company, has reported a turnaround in its financial performance for the first quarter. The company announced a net profit of Rs 2.57 lakh, compared to a loss of Rs 11.43 lakh in the corresponding quarter of the previous year.
Financial Highlights
| Item | Amount |
|---|---|
| Total Revenue | Rs 57.22 lakh |
| Total Expenses | Rs 54.03 lakh |
| Profit Before Tax | Rs 3.19 lakh |
| Earnings Per Share (EPS) | Rs 0.02 |
Total Revenue decreased from Rs 67.20 lakh in the same quarter of the previous year. EPS improved from negative Rs 0.08 in the corresponding period.
Revenue Breakdown
The company's total revenue for the quarter stood at Rs 57.22 lakh, entirely comprising other income. Notably, there was no revenue from operations recorded during this period, which marks a shift from the previous year when the company had reported operational revenue.
Expense Analysis
Kamanwala Housing Construction's total expenses for the quarter amounted to Rs 54.03 lakh. The major components of the expenses were:
| Expense Category | Amount |
|---|---|
| Employee benefits expense | Rs 25.33 lakh |
| Other expenses | Rs 18.21 lakh |
| Depreciation and amortisation expense | Rs 10.49 lakh |
Profitability Improvement
Despite the decrease in total revenue, the company managed to turn a profit, primarily due to a significant reduction in expenses compared to the previous year. The profit before tax stood at Rs 3.19 lakh for the quarter.
Board Approval and Auditor Review
The financial results were approved by the company's Board of Directors at their meeting held on August 14. M/s. Vinod Kumar Jain & Co, Chartered Accountants, the statutory auditors of the company, have conducted a limited review of these results.
Consolidated Results
On a consolidated basis, which includes the results of its joint ventures, Kamanwala Housing Construction reported similar figures, with a net profit of Rs 2.57 lakh and total revenue of Rs 57.22 lakh for the quarter.
Conclusion
Kamanwala Housing Construction Limited's quarterly results demonstrate a positive shift in profitability, despite the absence of operational revenue. The company's ability to manage expenses effectively has been key to this improvement. Investors and stakeholders will likely be watching closely to see if this trend continues and whether the company can revive its core operational activities in the coming quarters.
Historical Stock Returns for Kamanwala Housing Construction
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.40% | -2.31% | +1.15% | +90.15% | +32.37% | +285.96% |
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