Prime Industries Reports Q1 Results and Acquires Majority Stake in Agricultural Machinery Company
Prime Industries announced Q1 FY2024 results with a 101.4% increase in net profit to Rs. 2.78 million, despite no revenue from operations. Total revenue, consisting entirely of other income, rose by 11.5% to Rs. 8.31 million. The company also acquired a 50.001% stake in LINGA AGRI TRADING AND MACHINERY PRIVATE LIMITED, marking its entry into the agricultural machinery sector.