Parshwanath Corporation Reports 72% Revenue Growth in Q1
Parshwanath Corporation Limited, a residential project developer, reported a significant financial upturn in Q1. Total income increased by 72.6% to ₹38.44 lakhs compared to the previous quarter. Net profit rose to ₹9.19 lakhs from ₹0.53 lakhs in Q4. The company's Basic EPS stood at ₹0.29. Despite lower revenue compared to Q1 last year, improved operational efficiency was evident. The Board of Directors approved these unaudited financial results on August 12.
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Parshwanath Corporation Limited , a company engaged in the construction and development of residential projects, has reported a significant upturn in its financial performance for the first quarter. The Board of Directors approved the unaudited financial results at a meeting held on August 12.
Financial Highlights
- Revenue Surge: The company's total income stood at ₹38.44 lakhs, marking a substantial increase of 72.6% compared to ₹22.27 lakhs in the previous quarter.
- Profit Boost: Net profit reached ₹9.19 lakhs, a remarkable improvement from ₹0.53 lakhs in the preceding quarter.
- Earnings Per Share: Basic earnings per share (EPS) was reported at ₹0.29.
Quarterly Performance Comparison
| Particulars (in ₹ lakhs) | Q1 | Q4 | Q1 |
|---|---|---|---|
| Total Income | 38.44 | 22.27 | 46.89 |
| Total Expenses | 27.75 | 20.32 | 10.57 |
| Profit Before Tax | 10.89 | 2.21 | 36.51 |
| Net Profit | 9.19 | 0.53 | 30.82 |
Key Observations
Quarter-on-Quarter Growth: The results show a significant improvement over the previous quarter in both revenue and profitability.
Operational Efficiency: Despite lower revenue compared to the same quarter last year, the company has maintained profitability, suggesting improved operational efficiency or cost management.
Segment Reporting: Parshwanath Corporation Limited continues to operate in a single reportable segment - construction and development of residential projects.
Board Approval: The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting, which commenced at 4:00 PM and concluded at 6:35 PM on August 12.
Regulatory Compliance: The company has submitted its unaudited financial results along with a limited review report in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Parshwanath Corporation's latest quarterly results demonstrate a recovery trend, with significant quarter-on-quarter growth in both revenue and profitability. However, the year-on-year comparison indicates that the company is still working towards reaching its previous year's performance levels. Investors and stakeholders will likely be watching closely to see if this positive momentum continues in the coming quarters.
Historical Stock Returns for Parshwanath Housing Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.00% | -9.75% | -9.70% | -27.18% | +23.70% | +413.07% |
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