Shree Ganesh Biotech Reports 37.5% Jump in Net Profit for Quarter Ended June
Shree Ganesh Bio-Tech (India) Limited reported a net profit of Rs. 32.70 lacs for Q1, up 37.5% year-over-year, despite a 61.1% decline in revenue to Rs. 138.36 lacs. Total income fell 54.2% to Rs. 179.89 lacs, while expenses were reduced by 60.1% to Rs. 147.19 lacs. The company maintained its EPS at Rs. 0.01. The Board of Directors approved these unaudited financial results on July 25.
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Shree Ganesh Bio-Tech (India) Limited , a Kolkata-based company, has announced its financial results for the quarter ended June 30, showcasing a significant increase in profitability despite a decline in revenue.
Financial Highlights
The company reported a net profit of Rs. 32.70 lacs for the quarter, marking a substantial 37.5% increase from Rs. 23.78 lacs in the corresponding quarter of the previous year. This growth in profitability comes despite a notable decline in revenue, highlighting the company's improved operational efficiency.
| Particulars (in Rs. lacs) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue from Operations | 138.36 | 355.61 | -61.1% |
| Total Income | 179.89 | 392.47 | -54.2% |
| Total Expenses | 147.19 | 368.69 | -60.1% |
| Net Profit | 32.70 | 23.78 | +37.5% |
Revenue and Expenses
Shree Ganesh Bio-Tech experienced a significant decrease in its revenue from operations, which fell to Rs. 138.36 lacs from Rs. 355.61 lacs year-on-year, representing a 61.1% decline. The total income for the quarter stood at Rs. 179.89 lacs, down from Rs. 392.47 lacs in the same quarter of the previous year.
Despite the revenue decline, the company managed to substantially reduce its total expenses to Rs. 147.19 lacs from Rs. 368.69 lacs in the corresponding quarter. This 60.1% reduction in expenses played a crucial role in boosting the company's profitability.
Profitability and Earnings Per Share
The company's efforts in cost management have resulted in an improved bottom line. The net profit margin for the quarter increased significantly, indicating enhanced operational efficiency.
Earnings per share (EPS) remained steady at Rs. 0.01 for both basic and diluted calculations, consistent with the previous year's quarter.
Board Approval and Audit Review
The unaudited financial results were approved by the Board of Directors in a meeting held on July 25. The Board of Directors approved these unaudited financial results, which were also subject to review.
Company Background
Shree Ganesh Bio-Tech (India) Limited, with its registered office in Kolkata, continues to operate in the biotechnology sector.
Conclusion
While Shree Ganesh Bio-Tech faced significant revenue challenges in the quarter ended June 30, its ability to manage costs effectively led to a notable improvement in profitability. Investors and stakeholders will likely be watching closely to see if the company can maintain this efficiency while working to revitalize its revenue streams in the coming quarters.
Historical Stock Returns for Shree Ganesh Bio-Tech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | +1.35% | 0.0% | -19.35% | -27.88% | -87.33% |
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