Suryalakshmi Cotton Mills Reports 243% Surge in Q1 Profit, Schedules 62nd AGM
Suryalakshmi Cotton Mills Limited reported a 243% increase in profit for Q1 ended June 30, with profits rising to Rs 146.03 crore from Rs 42.54 crore year-over-year. Revenue from operations grew by 12.4% to Rs 17,834.56 crore. The company's total income reached Rs 17,910.13 crore, up 11.8% from the previous year. Earnings per share (EPS) improved to Rs 0.78 from Rs 0.23. The company announced its 62nd Annual General Meeting to be held on September 30 via video conferencing, with book closure from September 23 to 30.
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Suryalakshmi Cotton Mills Limited , a prominent player in the textile industry, has reported a significant boost in its financial performance for the quarter ended June 30. The company's unaudited financial results, approved by the Board of Directors, reveal a remarkable 243% increase in profit compared to the same period last year.
Financial Highlights
Profit and Revenue
- The company's profit for Q1 stood at Rs 146.03 crore, a substantial rise from Rs 42.54 crore in the same quarter of the previous year.
- Revenue from operations increased to Rs 17,834.56 crore, up from Rs 15,870.30 crore year-over-year, marking a 12.4% growth.
- The total income for the quarter reached Rs 17,910.13 crore, compared to Rs 16,020.55 crore in the corresponding quarter of the previous year.
Key Metrics
| Metric | Current Quarter | Previous Year Quarter | Change |
|---|---|---|---|
| Profit (Rs Crore) | 146.03 | 42.54 | +243% |
| Revenue (Rs Crore) | 17,834.56 | 15,870.30 | +12.4% |
| Total Income (Rs Crore) | 17,910.13 | 16,020.55 | +11.8% |
| EPS (Rs) | 0.78 | 0.23 | +239% |
Operational Performance
The company's strong financial results can be attributed to improved operational efficiency and market demand. Despite challenges in the global textile market, Suryalakshmi Cotton Mills has managed to capitalize on growth opportunities.
Annual General Meeting Announcement
The company has announced its 62nd Annual General Meeting (AGM) with the following details:
- Date: Tuesday, September 30, at 11:00 AM (IST)
- Mode: Video Conferencing (VC) / Other Audio Visual Means (OAVM)
- Book Closure: From September 23 to September 30 (both days inclusive)
Audit Review
The financial results for the quarter ended June 30 were reviewed by the Audit Committee and approved by the Board of Directors. The company's statutory auditors have issued an unqualified limited review report, affirming the accuracy and compliance of the financial statements.
Investor Implications
The strong financial results and the upcoming AGM are likely to be of interest to investors. The substantial increase in profit and revenue indicates positive momentum for Suryalakshmi Cotton Mills, which could potentially impact investor sentiment and stock performance.
Investors and stakeholders are advised to refer to the detailed financial results available on the company's website for a comprehensive understanding of Suryalakshmi Cotton Mills' financial position and performance.
Historical Stock Returns for Suryalakshmi Cotton Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.11% | -3.46% | -1.64% | +12.12% | -31.28% | +278.98% |
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