Lypsa Gems & Jewellery Reports Profit in Q1, Revenue Declines
Lypsa Gems & Jewellery Limited announced Q1 financial results, showing a turnaround with a profit after tax of ₹2.39 lakhs, compared to a loss of ₹1,527.81 lakhs in the previous quarter. Revenue from operations decreased to ₹115.04 lakhs from ₹657.74 lakhs in the previous quarter. The company operates in a single business segment and maintains a paid-up equity share capital of ₹2,948.40 lakhs. B.B. Gusani & Associates conducted a limited review of the Q1 results, finding no issues with the financial presentation.
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Lypsa Gems Jewellery , a player in the gems and jewellery sector, has announced its financial results for the first quarter. The company has shown a turnaround in profitability despite a significant decline in revenue.
Financial Performance
The Board of Directors of Lypsa Gems & Jewellery Limited approved the unaudited financial results for Q1. Here are the key highlights:
Profit After Tax: The company reported a profit after tax of ₹2.39 lakhs in Q1, compared to a loss of ₹1,527.81 lakhs in the previous quarter and a profit of ₹7.42 lakhs in the same quarter last year.
Revenue: Revenue from operations declined to ₹115.04 lakhs in Q1, down from ₹657.74 lakhs in the previous quarter and ₹141.77 lakhs in the corresponding quarter of the previous year.
Earnings Per Share: Basic and diluted earnings per share stood at ₹0.01 for Q1.
Comparative Analysis
| Particulars (₹ in Lakhs) | Q1 (Unaudited) | Previous Quarter (Audited) | Q1 Last Year (Unaudited) |
|---|---|---|---|
| Revenue from Operations | 115.04 | 657.74 | 141.77 |
| Total Expenses | 112.65 | 2,187.40 | 133.35 |
| Profit Before Tax | 2.39 | (1,529.66) | 7.42 |
| Profit After Tax | 2.39 | (1,527.81) | 7.42 |
Business Segment and Share Capital
The company continues to operate in a single business segment. Lypsa Gems & Jewellery Limited maintains a paid-up equity share capital of ₹2,948.40 lakhs, with shares having a face value of ₹10 each.
Management Commentary
While specific management comments were not provided, the Board of Directors reviewed the company's business during their meeting. The transition from a significant loss in the previous quarter to a profit in Q1, despite lower revenue, suggests potential cost-cutting measures or improved operational efficiency.
Auditor's Review
B.B. Gusani & Associates, the company's statutory auditors, have carried out a limited review of the Q1 results. They stated that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.
Investors and stakeholders should note that these are quarterly results and may not necessarily indicate long-term trends. The company's performance in the coming quarters will be crucial in determining its financial trajectory for the fiscal year.
Note: All financial figures are in Indian Rupees (₹).
Historical Stock Returns for Lypsa Gems Jewellery
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.74% | -3.15% | -1.83% | -2.27% | -23.58% | +126.32% |
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