Ramsons Projects Reports Surge in Q1 Profit, Driven by Other Income
Ramsons Projects reported a significant increase in profit for Q1, with Profit After Tax rising to Rs 306.58 crore from Rs 12.44 crore year-over-year. Total income reached Rs 380.48 crore, largely due to other income of Rs 365.24 crore. Revenue from operations was Rs 15.24 crore. EPS increased to Rs 10.20 from Rs 0.41. Total assets grew to Rs 1,682.82 crore, while investments surged to Rs 549.86 crore from Rs 49.29 crore. The company operates primarily in financing activities and chose to publish standalone financial results.
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Ramsons Projects has reported a significant increase in profit for the first quarter, primarily driven by a substantial rise in other income.
Financial Highlights
- Profit After Tax: Rs 306.58 crore, up from Rs 12.44 crore in the same quarter last year
- Total Income: Rs 380.48 crore
- Other Income: Rs 365.24 crore
- Revenue from Operations: Rs 15.24 crore
- Earnings Per Share (EPS): Rs 10.20, compared to Rs 0.41 in the previous quarter
Balance Sheet Strength
The company's balance sheet showed notable changes:
- Total Assets: Increased to Rs 1,682.82 crore from Rs 1,335.61 crore
- Cash and Cash Equivalents: Decreased to Rs 871.66 crore from Rs 1,099.40 crore
- Investments: Significantly increased to Rs 549.86 crore from Rs 49.29 crore
Operational Performance
Ramsons Projects, which operates primarily in financing activities, has chosen to publish standalone financial results. The company's revenue from operations remained modest at Rs 15.24 crore, while the bulk of its income came from other sources, totaling Rs 365.24 crore.
Segment-wise Performance
The company reported segment-wise revenue as follows:
| Segment | Revenue (in crore) |
|---|---|
| Financing Activities | 15.24 |
| Investment Activities | 0.00 |
| Unallocated | 365.24 |
Management Commentary
The Board of Directors of Ramsons Projects approved these unaudited financial results in their meeting. The meeting commenced at 12:10 P.M. and concluded at 01:00 P.M.
Auditor's Review
NVM & Company, Chartered Accountants, conducted a limited review of the financial results. They stated that nothing has come to their attention that causes them to believe that the accompanying statement of unaudited financial results does not disclose the information required to be disclosed or that it contains any material misstatement.
The substantial increase in other income and investments suggests a shift in the company's financial strategy, which may impact its future performance and direction in the financing sector.
Historical Stock Returns for Ramsons Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.98% | +4.48% | +31.24% | +215.16% | +121.06% | +1,662.50% |
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