Tirupati Fin-Lease Reports Strong Q1 Results, Plans Share Capital Increase
Tirupati Fin-Lease Limited reported robust Q1 financial results with a net profit of Rs 54.59 lakhs and EPS of Rs 1.82. The board approved increasing authorized share capital from Rs 3.5 crore to Rs 5.0 crore, appointed a new secretarial auditor, and scheduled the 32nd AGM for August 30. Book closure dates are set for August 27-30, with e-voting arranged through CDSL from August 27-29.
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Tirupati Fin-Lease Limited, a non-banking financial company, has reported robust financial results for the first quarter, along with several key corporate decisions. The company's board of directors approved these results and other significant matters during a meeting held on August 2.
Financial Performance Highlights
Tirupati Fin-Lease posted impressive financial results for the quarter ended June 30:
| Particulars | Amount (Rs in lakhs) |
|---|---|
| Total Income | 90.27 |
| Revenue from Operations | 84.35 |
| Total Expenses | 35.68 |
| Net Profit After Tax | 54.59 |
| Earnings Per Share (Rs) | 1.82 |
The company's revenue from operations was primarily driven by net gains on fair value changes of Rs 42.32 lakhs and sale of securities amounting to Rs 41.87 lakhs. This performance represents a significant improvement compared to the previous quarter, where the company had reported a loss.
Key Corporate Decisions
Authorized Share Capital Increase
The board has approved an increase in the company's authorized share capital from Rs 3.5 crore to Rs 5.0 crore, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Appointment of Secretarial Auditor
A new secretarial auditor has been appointed for a term of 5 years, pending approval from the members at the AGM.
Annual General Meeting
The 32nd AGM of Tirupati Fin-Lease Limited is scheduled for August 30, at 2:30 PM at the company's registered office.
Book Closure
The company has set the book closure dates from August 27 to August 30 (both days inclusive) for the purpose of the AGM.
E-voting Arrangements
Central Depository Services (India) Ltd (CDSL) has been appointed to handle the e-voting process for the AGM. The e-voting period will be from August 27 (9:00 AM) to August 29 (5:00 PM).
Management Commentary
Bajranglal Agarwal, Whole Time Director of Tirupati Fin-Lease Limited, signed off on the financial results and corporate announcements. The company's performance in Q1 shows a marked improvement in profitability and operational efficiency.
The proposed increase in authorized share capital suggests that Tirupati Fin-Lease may be planning for future growth opportunities or capital raising initiatives. Shareholders will be keenly watching the upcoming AGM for more details on the company's strategic plans and the rationale behind these corporate actions.
As Tirupati Fin-Lease continues to navigate the dynamic financial services landscape, these results and corporate decisions indicate a focus on strengthening its financial position and governance structures.
Historical Stock Returns for Tirupati Fin-Lease
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