SW Investments Reports Net Loss of Rs 4.59 Lakhs in Q2
SW Investments Limited announced a net loss of Rs 4.59 lakhs for Q2 FY24, compared to a net profit of Rs 1.04 lakhs in the previous quarter. Revenue from operations stood at Rs 0.65 lakhs. For H1 FY24, the company recorded a net loss of Rs 3.46 lakhs, down from a profit of Rs 13.08 lakhs in H1 FY23. Total assets increased to Rs 909.90 lakhs, with cash and cash equivalents rising to Rs 7.88 lakhs. The Board approved these unaudited results on November 11, subject to limited review by statutory auditors.
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SW Investments Limited, a financial services company, has announced its unaudited financial results for the quarter ended September 30, revealing a net loss of Rs 4.59 lakhs. This marks a shift from the net profit of Rs 1.04 lakhs reported in the previous quarter.
Financial Performance
The company's revenue from operations for the quarter stood at Rs 0.65 lakhs. For the half-year period ending September 30, SW Investments recorded a net loss of Rs 3.46 lakhs, contrasting with a profit of Rs 13.08 lakhs in the corresponding period of the previous year.
Balance Sheet Highlights
SW Investments' balance sheet showed some notable changes:
| Particulars | As of Sept 30 | As of March 31 |
|---|---|---|
| Total Assets | 909.90 | 786.28 |
| Cash and Cash Equivalents | 7.88 | 5.56 |
| Total Equity | 899.84 | 776.50 |
All figures in Rs lakhs
The company's total assets increased from Rs 786.28 lakhs as of March 31 to Rs 909.90 lakhs by September 30. This growth was accompanied by a rise in cash and cash equivalents from Rs 5.56 lakhs to Rs 7.88 lakhs over the same period.
Board Approval and Audit Review
The Board of Directors of SW Investments Limited approved these unaudited financial results in their meeting held on November 11. The results have been subject to a limited review by the company's statutory auditors, as per regulatory requirements.
Operating Segment
SW Investments Limited continues to operate in a single segment, as per IND AS 108 dealing with Operating Segments.
Conclusion
While the company has experienced a shift from profit to loss in this quarter, the increase in total assets and cash reserves may indicate ongoing investments or strategic financial moves. The company's performance in the upcoming quarters will be crucial in determining its financial trajectory for the current fiscal year.
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