Vapi Enterprise Ltd Reports 22% Decline in Q1 Net Profit
Vapi Enterprise's Q1 financial results show a decline in performance. Total income decreased by 18.61% to Rs. 50.25 lacs, while net profit after tax fell by 22.22% to Rs. 27.75 lacs compared to the same quarter last year. Earnings per share dropped to Rs. 1.22, a 29.89% decrease. The company's total expenses reduced by 22.91% to Rs. 39.75 lacs. The results were approved by the Board of Directors on August 11 after review by the Audit Committee.
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Vapi Enterprise , formerly known as Vapi Paper Mills Ltd, has released its unaudited financial results for the first quarter, revealing a decline in both revenue and profit compared to the same period last year.
Financial Performance
The company's Board of Directors approved the unaudited financial results for the quarter ended June 30 at a meeting held on August 11. Here are the key highlights:
| Particulars (in Rs. lacs) | Q1 Current | Q1 Previous | % Change |
|---|---|---|---|
| Total Income | 50.25 | 61.74 | -18.61% |
| Total Expenses | 39.75 | 51.56 | -22.91% |
| Net Profit After Tax | 27.75 | 35.68 | -22.22% |
| Earnings Per Share (Rs.) | 1.22 | 1.74 | -29.89% |
Revenue and Profit Analysis
Vapi Enterprise experienced a significant decrease in its total income, which fell from Rs. 61.74 lacs in the previous year's quarter to Rs. 50.25 lacs in the current quarter, representing an 18.61% decline. Despite a reduction in total expenses from Rs. 51.56 lacs to Rs. 39.75 lacs, the company's net profit after tax decreased by 22.22%, from Rs. 35.68 lacs to Rs. 27.75 lacs.
Earnings Per Share
The company's earnings per share (EPS) for both basic and diluted calculations stood at Rs. 1.22 for the current quarter, compared to Rs. 1.74 in the same quarter of the previous year, showing a decrease of 29.89%.
Capital Structure
Vapi Enterprise maintains a paid-up equity share capital of Rs. 228.15 lacs, with shares having a face value of Rs. 10 each.
Operational Details
The company operates in a single business segment, as disclosed in the notes to the financial results. The unaudited standalone financial results have been prepared in accordance with the Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013.
Board Meeting and Audit Review
The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on August 11. The meeting commenced at 1:00 PM and concluded at 2:30 PM. The statutory auditors of the company have carried out a limited review of these results, as per regulatory requirements.
Historical Stock Returns for Vapi Enterprise
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -2.35% | -7.72% | -6.69% | -28.22% | +30.58% |
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