Haryana Financial Corporation Q1 Results Revenue at ₹0.42 Crores, QoQ down by 5.80% but Grows YoY

Haryana Financial Corporation Q1 Results: Haryana Financial Corporation's performance showed different trends when compared quarter-over-quarter (QoQ) and year-over-year (YoY). QoQ, total revenue decreased by 5.80%, while selling, general, and admin expenses dropped by 23.78%. Operating income and net income both declined compared to the previous quarter. 

However, compared to the same time last year (YoY), total revenue increased by 18.67%, showing growth. Selling, general, and admin expenses went up by 5.15% YoY. Operating income and net income also improved from the previous year, highlighting a positive trend in overall financial performance despite recent declines.

Here’s a summary of Haryana Financial Corporations’ Q1 results:

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results

Haryana Financial Corporation Q1 Results Summary

Haryana Financial Corporation faced mixed financial outcomes in the first quarter of 2024. The company's income from operations was zero, which shows that it didn't make any money directly from its business activities during this period. Haryana Financial Corporation earned some income from other miscellaneous sources, which totaled ₹0.49 crores. This was slightly less than what it earned in the previous quarter but still a decent amount. The total income, combining both sources, was ₹0.49 crores.

On the expenditure side, Haryana Financial Corporation spent ₹0.75 crores on staff costs, which is lower than the previous quarter, indicating some cost-cutting measures. Other expenses remained fairly stable. Overall, the company's total expenditure was ₹0.93 crores, which was higher than its total income, leading to a loss before tax of ₹0.44 crores. After accounting for provisions and taxes, the net loss stood at ₹0.46 crores.

Haryana Financial Corporation managed to report a net profit of ₹1.81 crores, thanks to a significant profit from the sale of assets amounting to ₹2.91 crores. This asset sale played a crucial role in turning around the company's financial performance for the quarter, highlighting the importance of non-operational income in sustaining profitability.

Haryana Financial Corporation Q1 Results 2024-2025

Haryana Financial Corporation experienced a challenging period, with no income generated from its core business operations. The company's total income amounted to ₹0.49 crores, primarily driven by miscellaneous income sources. 

Here's a table summarizing the key results:

Haryana Financial Corporation Financial Overview

The Haryana Financial Corporation table shows financial information. The current price of the stock is ₹24.6. The book value is ₹10.8, which means the value of the company's assets per share is ₹10.8. The dividend yield is 0.00%, indicating that the company does not pay dividends to its shareholders. 

Here's the information:

Quarterly Results 

Haryana Financial Corporation, December 2023 showed low sales of Rs. 0.02 crores and high expenses of Rs. 1.12 crores, leading to a significant operating loss of Rs. 1.10 crores. The other income was Rs. 1.91 crores, helping to partially offset the loss, but the net profit was still negative at Rs. -0.09 crores.

Here's the data for December 2023, March 2024, and June 2024:

About Haryana Financial Corporation 

The Haryana Financial Corporation (HFC) is a government agency established on April 1, 1967, by the Haryana state government in India. Its main job is to provide financial support to small and medium-sized businesses in Haryana to help them grow and succeed. HFC offers various financial services, including loans and other types of financial assistance, to help new businesses get started and existing ones expand or diversify.

The Haryana Financial Corporation operates under the Department of Industries & Commerce in Haryana and is based in Chandigarh. It aims to boost economic development in the state by making it easier for businesses to access the funds they need. This support helps businesses create jobs and contribute to the local economy.

In addition to the Haryana Financial Corporation, there is the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), which works on developing industrial areas, technology parks, and other infrastructure projects in Haryana.

The state also promotes education and skills development through institutions like the Haryana Vishwakarma Skill University. Haryana has introduced policies to support economic growth, such as the Labour Policy in 2005 and the Land Pooling Policy in 2017.