Rander Corporation Reports Q1 Net Profit of ₹14.56 Lakhs, Appoints New Secretarial Auditor

Rander Corporation Limited has announced its unaudited standalone financial results for the first quarter, showcasing a significant improvement in both revenue and profitability compared to the same period last year.

Financial Highlights

• Net Profit: The company reported a net profit of ₹14.56 lakhs for Q1, nearly doubling from ₹7.52 lakhs in the corresponding quarter of the previous year.
• Revenue: Total revenue from operations surged to ₹109.27 lakhs, up from ₹22.10 lakhs in the same quarter last year, marking a substantial increase of 394%.
• Earnings Per Share (EPS): Basic and diluted EPS stood at ₹0.12, compared to ₹0.06 in the same quarter last year.

Quarterly Performance Breakdown

The company's performance was primarily driven by a significant increase in the sale of products, which amounted to ₹95.08 lakhs in the current quarter, compared to nil in the same period last year. Interest income, however, saw a decrease to ₹13.14 lakhs from ₹21.34 lakhs in the previous year's quarter.

Operational Highlights

• Cost Management: Despite the substantial increase in revenue, the company managed to keep its expenses in check. Total expenses for the current quarter were ₹89.81 lakhs, compared to ₹12.05 lakhs in the same quarter of the previous year.
• Profitability: The profit before tax increased to ₹19.46 lakhs from ₹10.05 lakhs in the corresponding quarter, reflecting improved operational efficiency.

Corporate Governance Update

In a move to strengthen its corporate governance practices, Rander Corporation's Board of Directors has approved the appointment of Mrs. Amita Karia as the Secretarial Auditor for a term of five consecutive financial years.

Mrs. Karia brings over a decade of experience in corporate governance and regulatory compliance to her new role. She is a fellow member of the Institute of Company Secretaries of India and a law graduate from Mumbai University. Her expertise spans areas such as Companies Act compliance, SEBI regulations, FEMA compliance, transaction advisory, and due diligence matters.

Management Commentary

The company's management expressed satisfaction with the quarterly results, highlighting the significant growth in revenue and profitability. They attributed the improved performance to increased sales and effective cost management strategies.

Trading Window Information

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, Rander Corporation announced that the trading window for dealing in the company's securities will reopen on August 16.

Investors and stakeholders are advised to consider these results in conjunction with the detailed financial statements and notes available in the company's official filings.