Kreon Financial Services reported a net loss of Rs 414.14 lakhs for the fiscal year ended March 31, despite revenue growth to Rs 2,332.73 lakhs. The company's expenses increased significantly to Rs 3,072.38 lakhs, mainly due to bad debts. To diversify, Kreon's Board approved applications for Payment Aggregator and Prepaid Payment Instrument licenses. The Board also reappointed auditors and proposed reappointment of two independent directors. Earnings per share declined to -Rs 2.05 from Rs 0.34 in the previous year.
Kreon Financial Services Limited reported significant improvement in Q1 financial performance. Total income increased to Rs. 1,187.32 lakhs from Rs. 842.19 lakhs in the previous quarter. The company turned a profit of Rs. 377.31 lakhs, compared to a loss of Rs. 78.84 lakhs in Q4. Revenue from operations grew to Rs. 1,020.73 lakhs. Earnings per share improved to Rs. 1.87 from negative Rs. 0.39. The company's 31st AGM is scheduled for August 29 via video conferencing, with book closure from August 23 to 29 and e-voting from August 26 to 28. No interim dividend was declared.