Suvidhaa Infoserve Reports Mixed Q1 Results: Revenue Up 38.6%, Profit Down 70.9%
Suvidhaa Infoserve's Q1 financial results show contrasting performance. Total income from operations increased by 38.6% to Rs. 1157.39 lakhs, but net profit declined by 70.9% to Rs. 33.76 lakhs compared to the same quarter last year. Operating profit before depreciation, tax, and exceptional items decreased to Rs. 40.54 lakhs from Rs. 43.96 lakhs. Earnings per share dropped to Rs. 0.62 from Rs. 0.97. However, the company showed sequential improvement with 8.8% revenue growth and a return to profit compared to the previous quarter's loss.
GS Mathur & Co., statutory auditors of Suvidhaa Infoserve Limited, have resigned effective August 13, 2025, citing increased audit procedures due to changes in financial reporting requirements. The auditors proposed a fee increase, which was not agreed upon. They confirmed no disputes regarding information availability or accuracy. Suvidhaa Infoserve stated no material reasons for resignation beyond the fee issue. The resignation takes effect after submitting the Limited Review Report for Q2 2025. The company will appoint new auditors to fill the vacancy.