Safari Industries Ltd on August 9 reported a consolidated net profit of Rs 49.94 crore for the June quarter of FY24, registering a growth of 88 percent from Rs 26.59 crore last year.
Sequentially, the net profit climbed by 31 percent, as it stood at Rs 38.08 crore in the fourth quarter of the previous fiscal year.
Total revenue of the company stood at Rs 426.68 crore in Q1Fy24, rising 46 percent from Rs 293.04 crore in the year-ago quarter, the company said in a regulatory filing. Quarter-on-quarter, the increase was of 40 percent, as the revenue in Q4FY23 had came in at Rs 305.38 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at Rs 79 crore, growing by 88 percent as against Rs 42 crore in the year-ago period. The EBIDTA margin grew to 18.5 percent from 14.2 percent in the corresponding quarter of the previous fiscal.
Following the release of the quarterly results, shares of Safari Industries soared at the stock market, and were trading at Rs 3,190 apiece on the BSE at 2:43 pm. This was 7.27 percent higher as against the previous day's close.
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