Garlon Polyfab Industries Ltd Reports Q1 2019 Unaudited Results and Limited Review Findings
Garlon Polyfab Industries Ltd released its unaudited financial results, including a limited review report for the quarter ended June 30, 2019. The Statement was reviewed by P. D. Agrawal & Co., Chartered Accountants, in accordance with the Standard on Review Engagement (SRE) 2410 of the Institute of Chartered Accountants of India.The management confirmed that the Statement adheres to Ind AS and other recognized accounting practices and policies. The review conducted by the statutory auditors sought moderate assurance regarding whether the financial statements were free from material misstatement, noting that a review provides less assurance than an audit.
Key financial results for the quarter ended June 30, 2019, as reported in the limited review statement are detailed below:
| Metric | Quarter Ended 30.06.19 (Unaudited) | Comparative Quarter | Further Period |
|---|---|---|---|
| Net profit/(Loss) from continuing operations | (383,590) | 87,000,000 | (234,000,000) |
| Total Comprehensive Income | (13,535,90) | 87,700,000 | (234,000,000) |
| Earnings Per Share (Basic) | (0.05) | 0.19 | (0.05) |
The unaudited results reflected that the Company had adopted Ind AS for the financial year commencing from April 1, 2017. The review noted that the comparative figures and reconciliation to Total Comprehensive Income were furnished by management.
The overall financial performance showed losses in the reported quarter across several metrics:
- Net profit/(Loss) from continuing operations stood at (383,590).
- Total Comprehensive Income was recorded as (13,535,90).
- Earnings Per Share (Basic) for the period was reported as (0.05).
Stock Price Movement
As of 15:15, Garlon Polyfab Industries Ltd shares are edging higher, standing at ₹3.31 after posting a sharp 19.93% gain for the day. The stock is trading completely flat on this point, as its intraday high and low remain locked at ₹3.31.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.