Panchmahal Steel Reports 67% Drop in Q2 Net Profit to 6M Rupees
Panchmahal Steels approved its Q2 and H1 unaudited financial results. Q2 net profit fell 67% to 6.00 million rupees from 18.00 million rupees year-on-year. Revenue declined 6.5% to 926.00 million rupees from 990.00 million rupees. The board meeting was held on October 18 from 12:00 noon to 1:20 p.m. to approve these results for the quarter and half-year ended September 30. The company submitted unaudited financial results and an independent auditors review report to BSE, complying with SEBI regulations.
*this image is generated using AI for illustrative purposes only.
Panchmahal Steels has recently approved its unaudited financial results for the second quarter and first half of the fiscal year. The company's Board of Directors convened on October 18 to review and approve these financial statements.
Key Financial Highlights
Q2 Performance
- Net Profit: 6.00 million rupees, down 67% year-on-year
- Revenue: 926.00 million rupees, a 6.5% year-on-year decline
Comparative Figures
- Q2 Previous Year Net Profit: 18.00 million rupees
- Q2 Previous Year Revenue: 990.00 million rupees
Board Meeting Details
- Date: October 18
- Time: 12:00 noon to 1:20 p.m.
- Purpose: Approval of unaudited financial results
Financial Period Covered
- Quarter ended September 30
- Half-year ended September 30
Regulatory Compliance
In adherence to the Securities and Exchange Board of India (SEBI) regulations, specifically Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, Panchmahal Steels has disclosed the outcome of its board meeting. The company has submitted the following documents to the Bombay Stock Exchange (BSE):
- Unaudited Financial Results (duly signed)
- Independent Auditors Review Report on the Interim Financial Results
Corporate Governance
The disclosure of financial results and the engagement of independent auditors for review demonstrate Panchmahal Steels' commitment to transparency and corporate governance. This practice allows investors and stakeholders to assess the company's financial performance and make informed decisions.
The significant drop in net profit and the decline in revenue indicate challenging market conditions for Panchmahal Steels in the current quarter. Shareholders and interested parties can access more detailed information about the financial results through the official channels of the Bombay Stock Exchange or the company's investor relations website.
Historical Stock Returns for Panchmahal Steels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.05% | -4.27% | -6.80% | +60.30% | +15.45% | +797.69% |
17
