Garlon Polyfab Industries Ltd Reports Unaudited Results for Quarter Ended June 30, 2023
Garlon Polyfab Industries Limited has released its unaudited financial results for the quarter ended June 30, 2023. The company's statements were reviewed by P.D. Agrawal & Co., Chartered Accountants.The review report indicated that nothing came to the accountants’ attention that suggested the statement had not been prepared in all material respects in accordance with Ind AS and other recognized accounting practices, nor did it contain any material misstatement. The company confirmed that it adopted Ind AS for the financial year commencing from April 1, 2017.
The company's management is responsible for the statements, which were approved by the Board of Directors. The review was conducted in accordance with the Standard on Review Engagement (SRE) 2410, obtaining moderate assurance regarding the absence of material misstatements.
Financial Performance Summary
The financial figures for Garlon Polyfab Industries Ltd across several periods are as follows:| Particulars | Quarter Ended 30.06.23 (Unaudited) | Quarter Ended 31.03.23 (Unaudited) | Quarter Ended 30.06.22 (Unaudited) | Quarter Ended 31.03.23 (Audited) |
|---|---|---|---|---|
| Total Income from Operations | N/A | N/A | N/A | N/A |
| Total Expenses | 58 Lakhs | 62 Lakhs | 3 Lakhs | 1.10 Lakhs |
| Profit (Loss) before Tax | 99 Lakhs | 95 Lakhs | 39 Lakhs | 59 Lakhs |
| Net Profit before Tax | 59 Lakhs | 9% of Sales | 39 Lakhs | 54 Lakhs |
| Net Profit/(Loss) for the period from continuing operations | (0.94) Lakhs | 10.98 Lakhs | (0.39) Lakhs | 0.54 Lakhs |
| Total Comprehensive Income | N/A | N/A | N/A | N/A |
| Paid up equity share capital and Reserves | 46,132 Lakhs | 461.32 Lakhs | 461.37 Lakhs | 461.32 Lakhs |
Key Financial Highlights
The unaudited results for the quarter show a range of financial outcomes across the reported periods:- Expenses: Total expenses were reported at 58 Lakhs for the quarter ended June 30, 2023, compared to 62 Lakhs in the previous un-audited quarter (March 31, 2023).
- Profit Before Tax: The company recorded a profit before tax of 99 Lakhs for the quarter ending June 30, 2023.
- Net Profit: Net profit before tax stands at 59 Lakhs for the current quarter (June 30, 2023).
The results were reviewed by the Audit committee and subsequently approved by the Board of Directors in their meeting held in August 2023.
Stock Price Movement
At 15:15, Garlon Polyfab Industries Ltd shares are ticking up at ₹3.31, having surged by 19.93%. The stock is currently trading completely flat, with the intraday high and low remaining identical at the current price point.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.
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