NewsEarningsSouth Asian Enterprises Reports Widened Losses in Q1, Approves Write-off of Subsidiary DuesSouth Asian Enterprises Reports Widened Losses in Q1, Approves Write-off of Subsidiary Dues
South Asian Enterprises Limited (SAEL) reported a significant increase in net loss for Q1 ended June 30. Revenue from operations declined 18.18% to ₹3.60, while total income dropped 46.56% to ₹8.15. Net loss widened to ₹5.95 from ₹0.67 in the previous quarter. The board approved writing off the entire dues of former subsidiary Chai The la Private Limited. Trading segment contributed ₹3.60 to revenue, while the 'Others' segment reported income of ₹4.55. The entertainment segment generated no revenue. Basic EPS was negative ₹0.15. Total expenses decreased to ₹14.09 from ₹28.03 in the previous quarter.
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South Asian Enterprises Limited (SAEL) has reported a significant increase in net loss for the first quarter, according to the company's latest financial results. The multi-segment operator also announced a decision to write off the entire dues of its former subsidiary.
Financial Performance
For the quarter ended June 30, SAEL reported:
| Particulars | Q1 | Q4 | Change |
|---|---|---|---|
| Revenue from Operations | ₹3.60 | ₹4.40 | -18.18% |
| Total Income | ₹8.15 | ₹15.25 | -46.56% |
| Net Loss | ₹5.95 | ₹0.67 | +788.06% |
The company's revenue from operations declined by 18.18% quarter-over-quarter, while total income saw a steeper drop of 46.56%. The net loss widened significantly from ₹0.67 in the previous quarter to ₹5.95 in Q1.
Segment Performance
SAEL operates across multiple segments, including entertainment, trading, and others. For Q1:
- The trading segment contributed ₹3.60 to revenue.
- The 'Others' segment reported income of ₹4.55.
- The entertainment segment did not generate any revenue during the quarter.
Write-off of Subsidiary Dues
In a significant development, the company's board has approved the proposal to write off the entire dues of Chai The la Private Limited, its erstwhile subsidiary. This decision is subject to other approvals, if any.
Other Financial Metrics
- Basic earnings per share stood at negative ₹0.15 for the quarter.
- The company's total expenses for Q1 were ₹14.09, compared to ₹28.03 in the previous quarter.
- Employee benefit expenses decreased to ₹5.07 from ₹18.34 in the preceding quarter.
Board Meeting and Audit Review
The financial results were approved by the Board of Directors in a meeting held on August 13. The meeting, which commenced at 4:00 p.m. and concluded at 5:15 p.m., also included a review by the Audit Committee. The statutory auditors have conducted a limited review of these unaudited financial results, with no adverse comments reported.
South Asian Enterprises Limited continues to face challenges in its operations, as evidenced by the widened losses and decreased revenue. The decision to write off the dues of its former subsidiary may have implications for the company's financial position going forward.
Historical Stock Returns for South Asian Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.98% | -5.90% | +10.30% | -19.92% | +0.69% | +616.78% |
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