Garlon Polyfab Reports Quarterly Results for June 2018; Net Loss Recorded Across Quarters
Garlon Polyfab Industries Ltd has announced its unaudited financial results for the quarter ended June, 2018. The company's performance across the reported periods showed negative profitability in key areas, alongside other comprehensive income figures as per the statements.The unaudited results detail various income and expense lines, including costs of materials consumed, purchase of stock-in-trade, changes in inventories, employee benefits expense, depreciation, finance cost, and other expenses. Net Profit/(Loss) before tax stood at -3,827.00 for the quarter ended June 2018.
Key financial data from Garlon Polyfab Industries Ltd across the reported periods are presented below:
| Particulars | Quarter Ended 30.06.2018 (Unaudited) | Quarter Ended 31.03.2018 (Unaudited) | Quarter Ended 30.06.2017 (Unaudited) | Year Ended 31.03.2018 (Audited) |
|---|---|---|---|---|
| Net Profit/(Loss) before tax | -3,827.00 | -111,664.00 | -31,964.00 | -179,855.76 |
| Paid up equity share capital (Face Value of Rs. 10/- per Share) | 46,132,000.00 | 46,132,000.00 | 46,132,000.00 | 46,132,000.00 |
| Earnings Per Share (EPS) Basic/Diluted (Year Ended) | N/A | N/A | N/A | -0.04 |
The company has also reported that the Paid up equity share capital stood at 46,132,000.00 in all periods listed.
Management noted that the financial statements were prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013. The company adopted Ind AS effective April 1, 2016, and accordingly, restated results for the quarter ended June 30, 2016.
The results were reviewed by the Audit committee and approved by the Board of Directors at their meeting held on July 29, 2018. The management ensured that the accounting policies used in preparation were consistent with those used in preparing the opening unaudited Balance Sheet as at April 01, 2018.
Stock Price Movement
As of 15:15, Garlon Polyfab Industries Ltd. shares are edging higher, climbing by 19.93% to reach ₹3.31. However, its trading range is completely flat, as the intraday high and low have been 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.
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