Ador Welding Reports Net Loss of Rs 346 Lakhs in Q1 Due to Project Cost Overruns
Ador Welding experienced a challenging first quarter, reporting a net loss of ₹346.00 lakhs compared to a profit of ₹2,077.00 lakhs in the same quarter last year. Revenue from operations decreased to ₹25,054.00 lakhs from ₹26,815.00 lakhs. The company's Flares & Process Equipment segment faced significant issues, with provisions of ₹2,792.00 lakhs made for an ongoing turnkey project due to delays and potential cost overruns. The Welding segment generated revenue of ₹23,682.00 lakhs with positive results, while the Flares & Process Equipment segment reported revenue of ₹1,372.00 lakhs but negative results. Earnings per share dropped to negative ₹1.99 from positive ₹15.27 in the previous year.
ADOR Welding announced Q4 FY results with revenue growth but profit decline. Revenue increased 4.73% YoY to ₹3,100 million, while net profit fell 13.73% to ₹220 million. EBITDA decreased 4.60% to ₹311 million, with margin contracting to 10.03%. Despite profit dip, company declared a ₹20 per share dividend. Sequentially, net profit improved 30.95% from previous quarter.