Promact Impex Limited Re-appoints Nikita J. Patel as Managing Director

Promact Impex Limited has announced the re-appointment of Ms. Nikita J. Patel as Managing Director for a three-year term, following approval from shareholders at the company's Annual General Meeting (AGM).

Key Details of the Re-appointment

Term Duration: Three years
Effective Date: September 23, 2020
Previous Term Expiry: September 22, 2020
Approval Method: Shareholder vote at AGM

Annual General Meeting Highlights

Date: September 18, 2020
Format: Video conferencing

About Nikita J. Patel

Ms. Nikita J. Patel brings a wealth of experience and qualifications to her role as Managing Director:

Education: Holds an M.C.A. degree
Expertise:
- Technical operations
- Factory management
- Computer software and hardware programming

Board Relationships

Ms. Nikita J. Patel has familial ties to other board members:

Related to Ms. Payalben J. Patel (Director)
Related to Mr. Ankit J. Patel (Director)

The re-appointment of Ms. Nikita J. Patel suggests continuity in Promact Impex Limited's leadership. Her extensive experience in technical operations and factory management, coupled with her educational background in computer applications, positions her well to guide the company through the evolving technological landscape in the impex sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.55%	+9.55%	-4.39%	-4.72%	-13.83%	+114.15%

Promact Impex Limited , a single-segment company, has released its unaudited financial results for the first quarter, revealing a net loss and a significant decline in revenue.

Financial Performance

The company reported a net loss of Rs 14.53 lakh for Q1, a slight improvement from the loss of Rs 15.25 lakh in the same quarter of the previous year. However, the company's revenue from operations saw a substantial decline, dropping to Rs 7.46 lakh from Rs 91.43 lakh in the previous quarter.

Expense Breakdown

Total expenses for the quarter stood at Rs 22.00 lakh, with finance costs being the largest component at Rs 12.42 lakh. Other significant expenses included:

Employee benefits expense: Rs 2.24 lakh
Depreciation & amortisation expense: Rs 1.63 lakh
Other expenses: Rs 5.71 lakh

Key Financial Metrics

Particulars (in Rs. Lakh)	Q1 (Unaudited)	Q4 (Audited)	Q1 (Unaudited)
Revenue from operations	7.46	33.67	6.83
Total Income	7.47	33.74	6.83
Total Expenses	22.00	15.72	22.08
Profit/(Loss) before tax	(14.53)	18.02	(15.25)
Profit/(Loss) for the period	(14.53)	15.98	(15.25)

The company's earnings per share (EPS) stood at negative Rs 0.22 for the quarter.

Board Approval and Audit Review

The Board of Directors approved these unaudited financial results on August 11. The results have been reviewed by the audit committee and have undergone a limited review by the company's auditors.

Company Profile

Promact Impex Limited operates in a single business segment and has no subsidiaries or associates. The company's registered office is located in Ahmedabad, Gujarat, with its factory in Dediyasan, Mehsana.

Investor Information

The company's paid-up equity share capital remains unchanged at Rs 651.18 lakh, with a face value of Rs 10 per share. As of the latest financial year end, the reserves excluding revaluation reserves stood at negative Rs 833.94 lakh.

Investors and stakeholders should note that these results are for a single quarter and may not necessarily reflect the company's long-term performance or prospects.