Triochem Products Reports Widened Q1 Net Loss of Rs. 15.24 Crore
Triochem Products Limited reported a net loss of Rs. 15.24 crore for Q1, a 58.42% increase from the previous year's Q1 loss of Rs. 9.62 crore. Total income remained relatively stable at Rs. 22.10 crore, down 3.79% year-on-year. Despite the net loss, the company reported a total comprehensive income of Rs. 89.27 crore. The Q1 EPS was negative Rs. 1.25, an improvement from the previous quarter's negative Rs. 18.44. The Board approved these unaudited financial results on August 14, prepared in accordance with Indian Accounting Standards.
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Triochem Products Limited, a chemical manufacturing company, has reported a significant increase in its net loss for the first quarter. The company's financial results, approved by the Board on August 14, reveal a challenging start to the new financial year.
Financial Performance
The company reported a net loss of Rs. 15.24 crore for Q1, which is substantially higher than the Rs. 9.62 crore loss recorded in the same quarter of the previous year. This represents a year-on-year increase in losses of about 58.42%. The loss has also widened considerably from the previous quarter, which stood at Rs. 2.82 crore.
Revenue and Operations
Despite the increased losses, Triochem Products' total income from operations remained relatively stable. The company reported a total income of Rs. 22.10 crore for Q1, compared to Rs. 22.97 crore in the same quarter of the previous year, indicating a marginal decrease of about 3.79% year-on-year. However, this figure represents a significant drop from the previous quarter's revenue of Rs. 32.47 crore.
Key Financial Metrics
| Metric | Q1 (Current) | Q1 (Previous Year) | QoQ Change |
|---|---|---|---|
| Net Loss | 15.24 | 9.62 | 58.42% |
| Total Income | 22.10 | 22.97 | -3.79% |
Earnings Per Share
The company's earnings per share (EPS) for Q1 stood at negative Rs. 1.25. While this represents a loss, it is an improvement from the negative Rs. 18.44 EPS reported in the previous quarter.
Total Comprehensive Income
Interestingly, despite the net loss, Triochem Products reported a total comprehensive income of Rs. 89.27 crore for Q1. This is a substantial improvement from the total comprehensive loss of Rs. 45.67 crore in the previous quarter.
Board Approval and Accounting Standards
The unaudited financial results for Q1 were approved by the company's Board of Directors on August 14. These results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013.
Disclosure Compliance
In compliance with Regulation 47 of SEBI (LODR) Regulations, 2015, Triochem Products Limited has published the extract of its unaudited financial results for the quarter ended June 30 in the newspapers Navshakti and Free Press Journal on August 15.
The company's performance in Q1 indicates ongoing challenges, with widening losses despite stable revenue. However, the positive total comprehensive income suggests there might be other factors at play, such as non-operational gains or accounting adjustments, which have contributed positively to the overall financial picture. Investors and stakeholders will likely be watching closely to see how Triochem Products addresses these challenges and works towards improving its bottom line in the coming quarters.
Historical Stock Returns for Triochem Products
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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