Share the post "VARIMAN GLOBAL ENTERPRISES announces Q1 Report: Revenue Dropped by 7.29% YoY"
Highlights
- The presented financial data is Consolidated to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company’s sales declined by -7.29 % over the year, decrease in net sales/revenue by -13.73 %.
- Income over the Year and quarter: There has been either a marginal increase or a decline in other income over the past year which is 57.6 %. Marginal decrease of -31.03% in other income during this quarter.
- Profit over the Year and quarter: Challenges in sustaining profitability for VARIMAN GLOBAL ENTERPRISES LIMITED. Profit dropped by -154.55 % Year to Year, VARIMAN GLOBAL ENTERPRISES LIMITED’s profitability dropped by -267.21 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -105.26 % Year to Year. EPS decreased by -200 % 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. 25.429 Cr | Rs. 27.329 Cr | Rs. 23.576 Cr | -13.73 % | -7.29 % |
| Expenses | Rs. 25.94 Cr | Rs. 28.64 Cr | Rs. 24.32 Cr | -15.08 % | -6.25 % |
| Operating Profit | Rs. -0.51 Cr | Rs. -1.31 Cr | Rs. -0.74 Cr | + 43.51 % | -45.1 % |
| OPM % | -2.01 % | -4.79 % | -3.14 % | + 1.65 % | -1.13 % |
| Other Income | Rs. 1 Cr | Rs. 2.285 Cr | Rs. 1.576 Cr | -31.03 % | + 57.6 % |
| Interest | Rs. 0.65 Cr | Rs. 1.08 Cr | Rs. 0.38 Cr | -64.81 % | -41.54 % |
| Depreciation | Rs. 0.16 Cr | Rs. 0.06 Cr | Rs. 0.17 Cr | + 183.33 % | + 6.25 % |
| Profit before tax | Rs. -0.32 Cr | Rs. -0.17 Cr | Rs. 0.29 Cr | + 270.59 % | + 190.63 % |
| Tax % | -15.43 % | -23.9 % | 26.09 % | + 49.99 % | + 41.52 % |
| Net Profit | Rs. -0.37 Cr | Rs. -0.12 Cr | Rs. 0.2 Cr | + 266.67 % | + 154.05 % |
| EPS in Rs | Rs. -0.19 | Rs. -0.01 | Rs. 0.01 | + 200 % | + 105.26 % |
Today, we’re looking at VARIMAN GLOBAL ENTERPRISES LIMITED’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a significant year-over-year sales decline of -7.29 %. However, it did see a marginal slip of -13.73 % from the previous quarter. Expenses decreased slightly by -15.08 % quarter-on-quarter, aligning with the annual decline of -6.25 %. Operating profit, while down -45.1 % compared to last year, faced a quarter-on-quarter increase of 43.51 %, signaling a short-term expansion in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -1.13 %, but an expansion of 1.65 % sequentially. Other income fell by -31.03 % compared to the last quarter, despite an annual growth of 57.6 %. Interest expenses dropped significantly by -64.81 % from the previous quarter, yet the year-over-year decrease remains at a moderate -41.54 %. Depreciation costs climbed by 183.33 % quarter-on-quarter, whereas on an annual scale, they saw an increase of 6.25 %. Profit before tax grew annually by 190.63 % but saw an increase from the preceding quarter by 270.59 %.
Tax expenses as a percentage of profits increased slightly by 41.52 % compared to last year, with a more notable quarter-on-quarter increase of 49.99 %. Net profit rose by 154.05 % year-on-year but experienced a 266.67 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 105.26 % but a quarterly rise of 200 %. In summary, VARIMAN GLOBAL ENTERPRISES LIMITED’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. 25.429 Cr | Rs. 27.329 Cr | Rs. 23.576 Cr | -13.73 % | -7.29 % |
| Expenses | Rs. 25.94 Cr | Rs. 28.64 Cr | Rs. 24.32 Cr | -15.08 % | -6.25 % |
| Operating Profit | Rs. -0.51 Cr | Rs. -1.31 Cr | Rs. -0.74 Cr | + 43.51 % | -45.1 % |
| Net Profit | Rs. -0.37 Cr | Rs. -0.12 Cr | Rs. 0.2 Cr | + 266.67 % | + 154.05 % |
| EPS in Rs | Rs. -0.19 | Rs. -0.01 | Rs. 0.01 | + 200 % | + 105.26 % |
In reviewing VARIMAN GLOBAL ENTERPRISES LIMITED’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales experienced a decrease of -7.29 % year-on-year, although there was a slight dip of -13.73 % from the previous quarter. Expenses decreased by -6.25 % compared to the previous year, with a decrease of -15.08 % quarter-on-quarter. Operating Profit dropped by -45.1 % annually, and saw a 43.51 % increase from the last quarter.
Net Profit showed yearly increase of 154.05 %, and experienced a 266.67 % increase from the previous quarter. Earnings Per Share (EPS) rose by 105.26 % annually, however rose by 200 % compared to the last quarter. In essence, while VARIMAN GLOBAL ENTERPRISES LIMITED exhibits strong annual growth 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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