Nexus Surgical & Medicare Reports 70% Jump in Q1 Profit, Revenue Dips Slightly
Nexus Surgical & Medicare Limited reported a significant increase in net profit for Q1 FY2024, rising 69.6% to ₹15.25 lakhs from ₹8.99 lakhs year-over-year. This growth came despite a 2% decrease in total income to ₹172.52 lakhs. The company effectively managed expenses, reducing them by 7.2% to ₹152.15 lakhs. Earnings per share improved by 75% to ₹0.28. Managing Director Ram Swaroop Joshi expressed satisfaction with the company's profitability improvement and efficient expense management.
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Nexus Surgical & Medicare Limited, a trading-focused company, has reported a significant increase in its net profit for the quarter ended June 30, despite a slight dip in revenue. The company's financial performance shows resilience in managing expenses while improving profitability.
Financial Highlights
| Particulars | Q1 (₹ in lakhs) | Q1 (₹ in lakhs) | YoY Change |
|---|---|---|---|
| Net Profit | 15.25 | 8.99 | +69.6% |
| Total Income | 172.52 | 176.03 | -2.0% |
| Total Expenses | 152.15 | 164.04 | -7.2% |
| EPS (₹) | 0.28 | 0.16 | +75.0% |
Nexus Surgical & Medicare Limited has posted a net profit of ₹15.25 lakhs for the quarter, marking a substantial 69.6% increase from ₹8.99 lakhs reported in the same quarter of the previous year. This impressive growth in profitability comes despite a marginal decrease in total income, which stood at ₹172.52 lakhs, down 2% from ₹176.03 lakhs in the corresponding quarter last year.
Revenue and Expense Management
The company's revenue from sales and services declined slightly to ₹172.52 lakhs from ₹176.03 lakhs year-over-year. However, Nexus Surgical & Medicare demonstrated effective cost management, with total expenses decreasing to ₹152.15 lakhs from ₹164.04 lakhs in the previous year's quarter, representing a 7.2% reduction.
Improved Profitability Metrics
The company's earnings per share (EPS) saw a significant improvement, rising to ₹0.28 from ₹0.16 in the corresponding quarter last year, reflecting a 75% increase. This growth in EPS outpaced the increase in net profit, indicating enhanced value creation for shareholders.
Operational Insights
According to the company's statement, Nexus Surgical & Medicare Limited is primarily engaged in the trading business and operates without separate reportable business segments. The company reported no shareholder complaints during the quarter, suggesting stable investor relations.
Management Commentary
Ram Swaroop Joshi, Managing Director of Nexus Surgical & Medicare Limited, stated, "The Board of Directors has approved the Unaudited Quarterly Financial Results of the Company for the quarter ended 30th June. We are pleased with the significant improvement in our profitability despite the slight decrease in revenue. Our focus on efficient expense management has yielded positive results, as reflected in our financial performance this quarter."
Conclusion
Nexus Surgical & Medicare Limited's Q1 results demonstrate the company's ability to enhance profitability through effective cost control measures, even in the face of slightly reduced revenue. The substantial increase in net profit and earnings per share highlights the company's improved operational efficiency and financial management.
Investors and stakeholders will likely be watching closely to see if Nexus Surgical & Medicare can maintain this momentum in the coming quarters, particularly in terms of revenue growth while sustaining its improved profit margins.
Historical Stock Returns for Nexus Surgical & Medicare
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.56% | +1.33% | +3.26% | +27.77% | +0.21% | +355.64% |
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