Lakshmi Engineering and Warehousing Reports Mixed Quarterly Performance with Revenue Decline

Lakshmi Engineering & Warehousing Limited has released its quarterly financial results, showing a mixed performance with a significant decline in revenue but a slight increase in profit.

Revenue Decline

The company reported a substantial decrease in revenue from operations, which fell to ₹323.68 lakhs from ₹1,279.87 lakhs in the previous quarter. This represents a significant decline of approximately 74.71% quarter-on-quarter. The total income for the quarter stood at ₹342.11 lakhs, down from ₹355.15 lakhs in the preceding quarter.

Segment Performance

Lakshmi Engineering and Warehousing operates in two main segments:

1. Warehousing Rental Services: This segment generated revenue of ₹216.40 lakhs, contributing significantly to the company's top line.
2. Engineering Services: This segment reported revenue of ₹119.22 lakhs for the quarter.

Profit Increase

Despite the revenue decline, the company experienced a slight increase in profitability. Profit after tax (PAT) stood at ₹24.10 lakhs, up from ₹21.79 lakhs in the previous quarter, marking an increase of about 10.60%.

Earnings Per Share

The earnings per share (EPS) for the quarter improved to ₹3.60, compared to ₹3.26 in the previous quarter, reflecting the increase in profitability.

Financial Position

The company maintained its paid-up equity share capital at ₹668.75 lakhs, with a face value of ₹100 per share. The total comprehensive income for the period was reported at ₹24.32 lakhs.

Conclusion

While Lakshmi Engineering and Warehousing Limited has shown a significant decline in its revenue for the quarter, the company managed to slightly improve its profitability. The contrasting performance in revenue and profit presents a complex picture for investors and stakeholders, who will likely be watching closely to see how the company addresses these challenges in the coming quarters.