Share the post "Ridhi Synthetics ‘s Q1 Results: Profit Drops by 48.08% YoY"
Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company experienced a substantial growth of 0 % in the past year, substantial increase in net sales/revenue by 0 %.
- Income over the Year and quarter: There has been decline in other income over the past year which is -40.07 %, Marginal decrease of -5.28% in other income during this quarter.
- Profit over the Year and quarter: Challenges in sustaining profitability for Ridhi Synthetics Ltd.. Profit dropped by -47.77 % Year to Year, Ridhi Synthetics Ltd.’s profitability dropped by -7.24 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -47.66 % Year to Year. EPS decreased by -7.05 % in previous quarter. Analysis needed for shareholder value.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 0.109 Cr | Rs. 0.109 Cr | Rs. 0.109 Cr | + 0 % | + 0 % |
| Expenses | Rs. 0.09 Cr | Rs. 0.13 Cr | Rs. 0.11 Cr | -15.38 % | + 22.22 % |
| Operating Profit | Rs. 0.02 Cr | Rs. -0.02 Cr | Rs. -0 Cr | 0 % | 0 % |
| OPM % | 18.35 % | -18.35 % | -0 % | + 18.35 % | -18.35 % |
| Other Income | Rs. 0.599 Cr | Rs. 0.379 Cr | Rs. 0.359 Cr | -5.28 % | -40.07 % |
| Interest | Rs. 0 Cr | Rs. 0 Cr | Rs. 0 Cr | 0 % | 0 % |
| Depreciation | Rs. 0 Cr | Rs. 0.04 Cr | Rs. 0.01 Cr | -75 % | 0 % |
| Profit before tax | Rs. 0.62 Cr | Rs. 0.32 Cr | Rs. 0.35 Cr | + 9.37 % | -43.55 % |
| Tax % | 16.53 % | 10.77 % | 24.01 % | + 13.24 % | + 7.48 % |
| Net Profit | Rs. 0.52 Cr | Rs. 0.29 Cr | Rs. 0.27 Cr | -6.9 % | -48.08 % |
| EPS in Rs | Rs. 4.28 | Rs. 2.41 | Rs. 2.24 | -7.05 % | -47.66 % |
Today, we’re looking at Ridhi Synthetics Ltd.’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 0 %. However, it did see a marginal increase of 0 % from the previous quarter. Expenses decreased slightly by -15.38 % quarter-on-quarter, aligning with the annual rise of 22.22 %.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -18.35 %, but an expansion of 18.35 % sequentially. Other income fell by -5.28 % compared to the last quarter, despite an annual decline of -40.07 %. Depreciation costs fell by -75 % quarter-on-quarter, Profit before tax declined annually by -43.55 % but saw an increase from the preceding quarter by 9.37 %.
Tax expenses as a percentage of profits increased slightly by 7.48 % compared to last year, with a more notable quarter-on-quarter increase of 13.24 %. Net profit fell by -48.08 % year-on-year but witnessed a -6.9 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -47.66 % but a quarterly fall of -7.05 %. In summary, Ridhi Synthetics Ltd.’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 0.109 Cr | Rs. 0.109 Cr | Rs. 0.109 Cr | + 0 % | + 0 % |
| Expenses | Rs. 0.09 Cr | Rs. 0.13 Cr | Rs. 0.11 Cr | -15.38 % | + 22.22 % |
| Operating Profit | Rs. 0.02 Cr | Rs. -0.02 Cr | Rs. -0 Cr | 0 % | 0 % |
| Net Profit | Rs. 0.52 Cr | Rs. 0.29 Cr | Rs. 0.27 Cr | -6.9 % | -48.08 % |
| EPS in Rs | Rs. 4.28 | Rs. 2.41 | Rs. 2.24 | -7.05 % | -47.66 % |
In reviewing Ridhi Synthetics Ltd.’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 0 % year-on-year growth, however, there was a minor increase of 0 % from the previous quarter. Expenses rose by 22.22 % compared to the previous year, with a decrease of -15.38 % quarter-on-quarter.
Net Profit showed yearly decrease of -48.08 %, and experienced a -6.9 % decrease from the previous quarter. Earnings Per Share (EPS) fell by -47.66 % annually, however dipped by -7.05 % compared to the last quarter. In essence, while Ridhi Synthetics Ltd. faces strong annual decline indicators, short-term improvements suggest the potential for recovery and the importance of strategic adjustments to counter market challenges effectively. That’s all for now in the financial sector.
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