Eimco Elecon’s board has approved its unaudited financial results for Q2 FY25 and reappointed Prayasvin Patel as Executive Director for a further three years. Additionally, the board has made amendments to the Code of Practice for Fair Disclosure of Unpublished Price Sensitive Information (UPSI).
The company reported a 12.07% decline in net profit quarter-on-quarter (QoQ) for Q2 FY25, with earnings of ₹130 crore, an increase from ₹118 crore in the same quarter last year. Despite this year-on-year growth, the company faced a QoQ decline in both revenue and net profit, indicating short-term challenges.
Key Highlights:
- Net Profit (QoQ): Decreased from ₹147.8 crore in the previous quarter to ₹130 crore, reflecting a 12.07% decline.
- Revenue (QoQ): Fell from ₹749.9 crore to ₹727.45 crore, showing a 3.00% decline.
In addition to the financial results:
- Reappointment: Prayasvin Patel has been reappointed as Executive Director for another three years, starting from November 2024, following the recommendation of the Nomination and Remuneration Committee.
- Board Approvals: Amendments were made to the Code of Practice for Fair Disclosure of UPSI.
- EPS Growth: The earnings per share (EPS) increased to ₹22.64, compared to ₹20.46 in Q2 FY24.
Despite some short-term challenges, the company continues to focus on operational growth and leadership.
TOPICS:
Eimco Elecon