Igarashi Motors Reports Decline in Q1 Revenue and Net Profit
Igarashi Motors India Limited experienced a decline in financial performance for Q1 FY24. Revenue from operations decreased by 7.8% to ₹2,047.13 crore, with the automotive segment contributing ₹1,773.23 crore. Net profit fell significantly by 69.2% to ₹25.10 crore. The automotive segment remained the primary revenue generator at 86.6% of total revenue. Despite lower expenses of ₹2,021.51 crore, profitability decreased due to reduced revenue. EPS dropped to ₹0.80 from ₹2.59 in the previous year's Q1.
Igarashi Motors India Limited reported a decline in its Q4 financial results. Revenue decreased by 6.86% to 1.90 billion rupees, EBITDA fell by 12.05% to 197.00 million rupees, and net profit dropped by 39.22% to 31.00 million rupees compared to the same quarter last year. The EBITDA margin contracted to 10.40% from 10.97%.