Parmax Pharma Reports Mixed Financial Results for FY 2023 with Revenue Decline
Parmax Pharma Limited's FY 2023 results show a decline in performance. Annual revenue decreased to Rs 154,243.45 thousand from Rs 182,511.20 thousand in FY 2022. The company reported a net loss of Rs 1,040.68 thousand, compared to a profit of Rs 1,415.13 thousand in the previous year. Quarterly revenue for Q4 2023 was Rs 63,819.33 thousand, down from Rs 70,879.78 thousand in Q4 2022. However, the company posted a quarterly net profit of Rs 1,729.60 thousand. Total assets stood at Rs 176,126.31 thousand as of March 31, 2023. The statutory auditors issued an unmodified opinion on the financial results.
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Parmax Pharma Limited, a pharmaceutical company, has released its audited financial results for the quarter and year ended March 31, 2023, revealing a mixed performance with a notable decline in revenue.
Quarterly Performance
For the quarter ended March 31, 2023, Parmax Pharma reported:
- Revenue from operations: Rs 63,819.33 thousand
- Net profit: Rs 1,729.60 thousand
The company's quarterly revenue saw a decrease compared to the same period in the previous year, which stood at Rs 70,879.78 thousand.
Annual Financial Results
For the full fiscal year 2023, Parmax Pharma's financial performance showed:
- Revenue: Rs 154,243.45 thousand (down from Rs 182,511.20 thousand in FY 2022)
- Net loss: Rs 1,040.68 thousand (compared to a profit of Rs 1,415.13 thousand in FY 2022)
- Total expenses: Rs 154,179.43 thousand
The company's balance sheet revealed total assets of Rs 176,126.31 thousand as of March 31, 2023.
Audit Opinion
The statutory auditors, B.A. Shah S.R. Mehta & Co, have issued an unmodified opinion on the financial results, indicating that the financial statements present a fair view of the company's financial position and performance.
Recent Financial Trends
Based on the latest available financial data:
| Metric | Value | Change |
|---|---|---|
| Sales (Q4) | Rs 1.90 crore | -60.42% YoY |
| Operating Profit Margin (Q4) | -12.89% | - |
| Earnings Per Share (Q4) | -2.04 | - |
Conclusion
Parmax Pharma Limited's financial results for FY 2023 highlight a challenging year for the company, marked by a decline in revenue and a shift from profit to loss on an annual basis. While the company managed to post a profit in the last quarter, the overall annual performance indicates ongoing financial pressures.
Historical Stock Returns for Parmax Pharma
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.69% | +13.77% | +4.49% | -16.79% | -29.54% | +10.86% |
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