PS IT Infrastructure Reports ₹94.31 Lakh Loss in Q1 Despite Revenue Surge
PS IT Infrastructure & Services Limited reported Q1 financial results with revenue from operations increasing to ₹64.33 lakh, up from nil in the previous quarter. However, the company incurred a net loss of ₹94.31 lakh due to a surge in total expenses to ₹158.64 lakh. Major expenses included ₹135.59 lakh in inventory changes and ₹15.51 lakh in finance costs. The company's paid-up equity share capital stands at ₹5,376.00 lakh with other equity at -₹1,990.64 lakh. Auditors found no issues with the financial statements' fair representation.
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PS IT Infrastructure & Services Limited , a company operating in the Finance & Investments sector, has reported its financial results for the first quarter, revealing a mixed performance with increased revenue but a significant net loss.
Revenue Growth and Financial Performance
The company witnessed a substantial increase in revenue from operations, which rose to ₹64.33 lakh. This marks a significant improvement from the previous quarter, where the company reported nil revenue from operations.
Despite the revenue growth, PS IT Infrastructure & Services Limited reported a net loss of ₹94.31 lakh for the quarter. This loss is primarily attributed to a surge in total expenses, which escalated to ₹158.64 lakh from ₹8.34 lakh in the preceding quarter.
Key Financial Metrics
| Metric | Value |
|---|---|
| Revenue from Operations | ₹64.33 lakh |
| Net Loss | ₹94.31 lakh |
| Total Expenses | ₹158.64 lakh |
| Earnings Per Share (EPS) | -₹0.18 |
Expense Breakdown
The significant increase in expenses was largely due to the following factors:
- Changes in Inventories: A major contributor to the expenses was the changes in inventories of finished goods, work-in-progress, and stock-in-trade, amounting to ₹135.59 lakh.
- Finance Costs: The company incurred finance costs of ₹15.51 lakh.
- Employee Benefit Expenses: ₹1.57 lakh was spent on employee benefits.
- Other Expenses: Additional expenses of ₹5.97 lakh were reported.
Capital Structure
As of the reporting period, PS IT Infrastructure & Services Limited maintains:
- Paid-up Equity Share Capital: ₹5,376.00 lakh (Face value of ₹10 per share)
- Other Equity: -₹1,990.64 lakh
Management Commentary
The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. Kawarlal K. Ojha, the Managing Director, signed off on the financial statements.
Auditor's Review
Rajesh Kumar Gokul Chandra & Associates, the company's statutory auditors, conducted a limited review of the financial results. They stated that nothing has come to their attention that causes them to believe that the financial statements do not present a true and fair view in accordance with applicable accounting standards and generally accepted accounting principles.
Outlook
While the company has shown a significant improvement in revenue generation compared to the previous quarter, the substantial increase in expenses, particularly in inventory changes and finance costs, has led to a net loss. Investors and stakeholders will likely be watching closely to see how PS IT Infrastructure & Services Limited manages its expenses and capitalizes on its revenue growth in the coming quarters.
The company continues to operate in a single business segment of Finance & Investments, as per Indian Accounting Standard 108 "Operating Segment". The management's strategies to address the current loss and improve profitability will be crucial for the company's future performance.
Historical Stock Returns for PS IT Infrastructure & Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.92% | -7.27% | -5.56% | -22.73% | -61.85% | -94.10% |
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