Nilkanth Engineering Reports Consolidated Q1 Profit of ₹55.80 Crore, Standalone Loss Narrows

Nilkanth Engineering Limited has released its financial results for the first quarter, showcasing a mixed performance across its standalone and consolidated operations.

Consolidated Performance

On a consolidated basis, Nilkanth Engineering reported a significant increase in net profit for Q1. The company's consolidated net profit stood at ₹55.80 crore, compared to ₹23.09 crore in the same quarter of the previous year. This substantial growth was primarily attributed to the share of profit from associates, which amounted to ₹62.48 crore.

The consolidated results include the performance of three associate companies: Jatayu Textiles & Industries Limited, Sushree Trading Limited, and Osiris Online Private Limited.

Standalone Results

On a standalone basis, Nilkanth Engineering's performance showed signs of improvement, albeit still in loss-making territory. The company reported a narrowed net loss of ₹6.68 crore, compared to a loss of ₹6.82 crore in the corresponding quarter of the previous year.

Revenue and Expenses

The company's total income for the quarter remained stable at ₹5.99 crore, consisting entirely of other income with no revenue from operations. Total expenses stood at ₹12.68 crore, which included:

• Employee benefits expenses: ₹1.73 crore
• Depreciation: ₹8.10 crore
• Other expenses: ₹2.85 crore

Earnings Per Share

The earnings per share (EPS) for the quarter showed contrasting results:

Other Comprehensive Income

The company reported a significant Other Comprehensive Loss, primarily due to fair value measurement on investments:

Management Commentary

Shiksha Agrawal, Managing Director of Nilkanth Engineering Limited, approved the financial results along with the Board of Directors. The company maintains its focus on fund-based leasing and financing activities as its primary business segment.

Auditor's Review

PKJ & CO., the statutory auditors, conducted a limited review of the financial results and issued an unqualified review report for both standalone and consolidated financials.

Nilkanth Engineering Limited continues to navigate challenging market conditions, with its consolidated performance bolstered by its associate companies while working to improve its standalone operations.