Silverstone Consultancy Services Boosts Stake in Tavernier Resources to 7.78%
Silverstone Consultancy Services Private Limited has increased its stake in Tavernier Resources Limited by 0.84%, acquiring 50,000 shares through open market transactions. This brings Silverstone's total holding to 7.78% of Tavernier Resources. Concurrently, Tavernier Resources reported a significant improvement in its Q1 financial results, with revenue from operations reaching Rs. 30.89 lakhs and net profit turning positive at Rs. 15.88 lakhs, compared to a loss in the same quarter last year.
Tavernier Resources Limited has reported a notable financial turnaround in Q1. The company's net profit reached Rs 15.88 lakhs, compared to a loss of Rs 5.30 lakhs in the same quarter last year. Revenue from operations surged to Rs 30.89 lakhs from nil, while total revenue increased by 883.23% to Rs 31.66 lakhs. The company's EPS improved to Rs 0.27 from negative Rs 0.09. Despite higher employee benefit expenses, efficient cost management contributed to the improved profitability. The company is in the process of shifting its registered office to Ahmedabad, with ROC approval pending.