Norben Tea & Exports Reports Significant Profit Growth in Q1
Norben Tea & Exports Limited reported a net profit of ₹28.50 lakhs for Q1, a substantial improvement from the previous quarter's loss of ₹103.25 lakhs and the ₹3.66 lakhs profit in Q1 of the previous year. Revenue from operations increased to ₹123.33 lakhs from ₹108.30 lakhs in the previous quarter. The company's basic EPS improved to ₹0.22. The paid-up equity share capital increased to ₹1,333.61 lakhs due to warrant conversion. Management cautions that Q1 results may not represent full-year performance due to the seasonal nature of the tea industry.
*this image is generated using AI for illustrative purposes only.
Norben Tea & Exports Limited , a company primarily engaged in tea cultivation, manufacturing, and sales, has reported a substantial improvement in its financial performance for the first quarter.
Financial Highlights
The company's unaudited financial results for the quarter ended June 30 reveal a remarkable turnaround:
| Particulars (₹ in Lakhs) | Q1 | Q4 | Q1 (Previous Year) |
|---|---|---|---|
| Revenue from Operations | 123.33 | 108.30 | 128.69 |
| Net Profit/(Loss) | 28.50 | (103.25) | 3.66 |
| Basic EPS (₹) | 0.22 | (0.88) | 0.03 |
Profit Surge
Norben Tea & Exports reported a net profit of ₹28.50 lakhs for Q1, marking a significant improvement from the loss of ₹103.25 lakhs in the previous quarter. This also represents a substantial increase compared to the profit of ₹3.66 lakhs in the same quarter of the previous year.
Revenue Performance
The company's revenue from operations stood at ₹123.33 lakhs, showing an increase from ₹108.30 lakhs in the previous quarter. However, it was slightly lower than the ₹128.69 lakhs reported in the corresponding quarter of the previous year.
Earnings Per Share
The basic earnings per share (EPS) improved significantly to ₹0.22, compared to a loss per share of ₹0.88 in the previous quarter and an EPS of ₹0.03 in the same quarter last year.
Capital Structure Update
During the quarter, Norben Tea & Exports saw an increase in its paid-up equity share capital to ₹1,333.61 lakhs from ₹1,296.81 lakhs in the previous quarter. This change is attributed to the allotment of 3.68 lakh equity shares through warrant conversion, for which the company received ₹46.92 lakhs.
Operational Context
It's important to note that Norben Tea & Exports operates in a seasonal industry. The company's management has cautioned that the figures for the quarter ended June 30 should not be considered representative of the likely results for the entire financial year.
Conclusion
Norben Tea & Exports Limited has demonstrated a strong start to the fiscal year with a substantial increase in profitability. However, given the seasonal nature of the tea industry, it will be important to monitor the company's performance over the coming quarters to gauge its full-year prospects.
Historical Stock Returns for Norben Tea & Exports
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.88% | -1.41% | +33.27% | +45.52% | +122.60% | +291.14% |
20
