Garlon Polyfab Reports Net Loss of 1.05 Lacs for Quarter Ended March 31, 2022
Garlon Polyfab Industries Ltd has reported its unaudited financial results for the quarter ending March 31, 2022, revealing a net loss from continuing operations and significant figures across both quarterly and annual periods. The company's standalone financial outcomes reflected challenging performance in Q1 FY24 (Quarter ended March 31, 2022).The results show that the standalone financial outcome for the quarter ended March 31, 2022, was a net loss of 1.05 Lacs. The corresponding total comprehensive income for this period stood at (1.05) Lacs. For the full year ending March 31, 2022, Net Profit/(Loss) before tax stood at (2.28) Lacs, while the net loss after tax and other comprehensive income was also reported at (1.05) Lacs.
The operational data detailed in the unaudited statements showed significant expenses, with Cost of materials consumed noted at 0.36 Lacs for the quarter ended March 31, 2022. The company's Total Expenses stood at 1.05 Lacs for the quarter, compared to 0.38 Lacs in the previous period (Quarter ended March 31, 2021).
Financial Position Summary
A review of Garlon Polyfab Industries Ltd’s standalone Statement of Assets and Liabilities highlights the company's financial structure as at March 31, 2022. The total assets stood at 6.06 Lacs in the current year, compared to 6.15 Lacs in the previous year ended March 31, 2021.Key figures from the balance sheet are presented below:
| Particular | Current Year Ended (31/03/2022) | Previous Year Ended (31/03/2021) |
|---|---|---|
| Total Assets | 6.06 Lacs | 6.15 Lacs |
| Shareholders Fund | -655.89 | -653.60 |
| Current Liabilities | 192.46 | 191.76 |
In terms of the balance sheet components, Non-Current Assets stood at 5.76 Lacs in both periods, comprising Long term loans and advances totaling 5.76 Lacs. For current assets, Cash and Cash equivalents amounted to 0.30 Lacs as of March 31, 2022, down from 0.39 Lacs the previous year.
The results have been audited by Statutory Auditors in compliance with Indian Accounting Standards (Ind AS). The standalone financial results for the quarter ended March 31, 2022, were reviewed by an independent auditor according to the Standard on Review Engagements (SRE) 2410.
Stock Price Movement
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