ZR2 Bioenergy Reports Profit of ₹30.85 Crore in Q1 Despite Zero Revenue from Operations
Gujchem Distilleries, formerly Gujchem Distillers India Limited, announced a net profit of ₹30.85 crore for Q1, compared to a loss of ₹79.05 crore in the same quarter last year. The company saw a 950.45% increase in other income to ₹46.43 lakh and reduced total expenses by 81.23% to ₹15.67 lakh. Basic EPS improved from -₹2.21 to ₹0.86. ZR2 Group Holdings Limited acquired a 61% stake, becoming the new promoter. The company incorporated a wholly-owned subsidiary, ZR2 Solar Private Limited, for renewable energy operations. It also raised capital through the issuance of convertible warrants and compulsory convertible debentures.