GulfHindi English Desk: GI Engineering Solutions Ltd, an offshore engineering design company that provides civil engineering and information technology (IT) support, recently announced its quarterly results (Q1FY24).
The company reported a net sales of INR 93.31 crore in Q1FY24, compared to INR 0.03 crore in Q1FY23. This is a significant increase that reflects the expansion of the company’s business.
In terms of operating profit, the company reported INR 0.95 crore in Q1FY24, while it had reported a net operating loss of INR 0.01 crore in Q1FY23.
The company also reported a profit after tax (PAT) of INR 0.94 crore in Q1FY24, which is a 950% increase compared to the net operating loss of INR 0.01 crore in Q1FY23.
According to the annual results, the company reported a net sales of INR 840.39 crore in FY23, compared to INR 0.11 crore in FY22. The net profit increased to INR 2.88 crore in FY23, from INR 0.01 crore in FY22.
With a multi-bagger return on shares and a 1.47% increase in the company’s stake in partnerships, investors should keep an eye on this company’s stock.
Table:
๐Q1FY24 Net Sales: INR 93.31 crore
๐Q1FY23 Net Sales: INR 0.03 crore
๐Q1FY24 Operating Profit: INR 0.95 crore
๐Q1FY23 Operating Loss: INR 0.01 crore
๐Q1FY24 PAT: INR 0.94 crore
๐Q1FY23 Net Operating Loss: INR 0.01 crore
๐FY23 Net Sales: INR
en.gulfhindi.com News Summary
๐GI Engineering Solutions Ltd is an offshore engineering design company that provides civil engineering and IT support.
๐The company has announced its quarterly results (Q1FY24).
๐The net sales in Q1FY24 increased significantly to INR 93.31 crore compared to INR 0.03 crore in Q1FY23, indicating business expansion.
๐The operating profit in Q1FY24 was INR 0.95 crore, while it reported a net operating loss of INR 0.01 crore in Q1FY23.
๐The company’s profit after tax (PAT) in Q1FY24 was INR 0.94 crore, showing a growth of 950% compared to the net operating loss of INR 0.01 crore in Q1FY23.
๐The annual results for FY23 also showed a significant increase in net sales to INR 840.39 crore from INR 0.11 crore in FY22.
๐The net profit for FY23 increased to INR 2.88 crore from INR 0.01 crore in FY22.
๐With a 1.47% increase in shareholding and a multi-bagger return of 120% in 6 months and 170% in 1 year, investors should keep an eye on the company’s stock.
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