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IGC Industries Q1 Results Zero Income, ₹0.04 Lakhs Expenses, and ₹0.04 Lakhs Loss
IGC Industries' Q1 Results with that they had no income reported expenses of ₹0.04 lakhs and suffered a net loss of ₹0.04 lakhs.
by Ruksana
Updated Sep 09, 2024
Table of Content
IGC Industries Q1 Results
IGC Industries Q1 Results: IGC Industries formerly known as IGC Foils , recently released its financial results for the quarter ending June 30, 2024. The company did not earn any income from its operations during this quarter, and there were no other sources of income either. This means that the company's total income was zero.
When looking at the expenses, IGC Industries spent very little: just 0.04 lakhs in total for the quarter. These expenses include minor amounts for employee benefits, finance costs, depreciation, and other miscellaneous costs. Notably, the company’s employee benefits and finance costs were very low compared to previous quarters. For instance, employee benefits were just 0.00 lakhs this quarter compared to 0.15 lakhs last quarter and 5.34 lakhs for the same quarter last year.
IGC Industries reported a loss of 0.04 lakhs for the quarter. This is a slight improvement compared to the losses of 1.30 lakhs in the previous quarter and 4.63 lakhs in the same quarter last year. The total loss for the entire fiscal year was 39.42 lakhs. The company has not made any profit or had any exceptional items during this period. The earnings per share are zero for this quarter and negative for the previous periods.
Here is a summary of the unaudited financial results for IGC Industries for the quarter ended June 30, 2024:
(Figures in Lakhs)
|
Particulars |
Quarter Ended 30.06.2024 |
Quarter Ended 31.03.2024 |
Quarter Ended 30.06.2023 |
Year Ended 31.03.2024 |
|
1. Income from operations |
||||
|
a) Revenue from operations |
0.00 |
0.00 |
0.00 |
0.00 |
|
b) Other operating Income |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Income from Operations (Net) |
0.00 |
0.00 |
0.00 |
0.00 |
|
2. Expenses |
||||
|
a) Cost of Materials consumed |
0.00 |
0.00 |
0.00 |
0.00 |
|
b) Purchase of Stock in Trade |
0.00 |
0.00 |
0.00 |
0.00 |
|
c) Changes in inventories of finished goods, work in progress and stock in trade |
0.00 |
0.00 |
0.00 |
0.00 |
|
d) Employee benefits expense |
0.00 |
0.15 |
0.00 |
5.34 |
|
e) Finance Cost |
0.00 |
0.11 |
0.00 |
0.20 |
|
e) Depreciation and amortisation expenses |
0.00 |
0.12 |
0.10 |
0.39 |
|
f) Other expenses (any item exceeding 10% of the total expenses to be shown separately) |
0.04 |
0.93 |
4.53 |
33.50 |
|
Total Expenses |
0.04 |
1.30 |
4.63 |
39.42 |
|
3. Profit/(Loss) from operations before other income, finance costs and exceptional items |
-0.04 |
-1.30 |
-4.63 |
-39.42 |
|
4. Other Income |
0.00 |
0.00 |
0.00 |
0.00 |
|
5. Profit/(Loss) from ordinary activities before finance costs and exceptional items |
-0.04 |
-1.30 |
-4.63 |
-39.42 |
|
6. Finance costs |
0.00 |
0.00 |
0.00 |
0.00 |
|
7. Profit/(Loss) from ordinary activities after finance costs but before exceptional items |
-0.04 |
-1.30 |
-4.63 |
-39.42 |
|
8. Exceptional items |
0.00 |
0.00 |
0.00 |
0.00 |
|
9. Profit/(Loss) from ordinary activities before tax |
-0.04 |
-1.30 |
-4.63 |
-39.42 |
|
10. Tax expense |
||||
|
Current Tax |
0.00 |
0.00 |
0.00 |
0.00 |
|
Deferred Tax |
0.00 |
0.00 |
0.00 |
0.00 |
|
11. Net Profit/(Loss) from ordinary activities after tax |
-0.04 |
-1.30 |
-4.63 |
-39.42 |
|
12. Extraordinary items (net of tax expense) |
0.00 |
0.00 |
0.00 |
0.00 |
|
13. Net Profit/(Loss) for the period |
-0.04 |
-1.30 |
-4.63 |
-39.42 |
|
14. Paid up Equity Share Capital |
224.00 |
224.00 |
224.00 |
224.00 |
|
15. Reserves excluding Revaluation Reserve as per Balance Sheet of previous accounting year |
0.00 |
0.00 |
0.00 |
0.00 |
|
16. Earnings Per Share (before/after extraordinary items) (Rs.10/- each) |
||||
|
Basic |
0.00 |
-0.06 |
-0.21 |
-1.76 |
|
Diluted |
0.00 |
-0.06 |
-0.21 |
-1.76 |
Source: Here
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IGC Industries Financial Performance
GC Industries has a market capitalization of ₹7.89 Crore, meaning the total value of all its shares is this amount. The current stock price is ₹35.2. The stock has traded between ₹59.2 at its highest and ₹25.0 at its lowest. The book value per share is ₹3.17, showing the company's net worth per share. The dividend yield is 0.00%, so the company does not pay dividends.
Here's the financial data in table format:
|
Metric |
Value |
|
Market Cap |
₹7.89 Crore |
|
Current Price |
₹35.2 |
|
High / Low |
₹59.2 / ₹25.0 |
|
Book Value |
₹3.17 |
|
Dividend Yield |
0.00% |
|
ROCE |
-4.99% |
|
ROE |
-43.1% |
|
Face Value |
₹10.0 |
Quarterly Results
The IGC Industries table shows financial results over different quarters. In December 2023, the company had zero sales but high expenses of Rs. 0.32 Crores, leading to a loss of Rs. 0.32 Crores. In March 2024, expenses dropped to Rs. 0.01 Crores, and the loss reduced to Rs. 0.01 Crores. By June 2024, there were no sales or expenses, and the company broke even with no profit or loss.
Here’s the transposed table for the Dec 2023, Mar 2024, and Jun 2024 quarters:
|
Particulars |
Dec 2023 (Rs. Crores) |
Mar 2024 (Rs. Crores) |
Jun 2024 (Rs. Crores) |
|
Sales |
0.00 |
0.00 |
0.00 |
|
Expenses |
0.32 |
0.01 |
0.00 |
|
Operating Profit |
-0.32 |
-0.01 |
0.00 |
|
OPM (%) |
|||
|
Other Income |
0.00 |
0.00 |
0.00 |
|
Interest |
0.00 |
0.00 |
0.00 |
|
Depreciation |
0.00 |
0.00 |
0.00 |
|
Profit Before Tax |
-0.32 |
-0.01 |
0.00 |
|
Tax (%) |
0.00% |
0.00% |
0.00% |
|
Net Profit |
-0.32 |
-0.01 |
0.00 |
|
EPS (Rs.) |
-1.43 |
-0.04 |
0.00 |
About IGC Industries
IGC Industries is a company that sells a variety of fabrics and textile products. They offer different types of materials including cotton, silk, polyester, wool, yarn, linen, worsted, and jute.
These fabrics are used in making clothes, coverings, and home furnishings. IGC Industries provides these products to businesses in the garment industry, for home decoration, and for various types of coverings. Their goal is to supply high-quality textiles to meet the needs of different sectors in the market.
IGC Industries Q1 Results - FAQs
1. What is the total income reported by IGC Industries for Q1 2024?
IGC Industries reported zero total income for Q1 2024.
2. How much did IGC Industries spend on employee benefits in Q1 2024?
IGC Industries spent ₹0.00 Lakhs on employee benefits in Q1 2024.
3. What were the total expenses for IGC Industries in Q1 2024?
IGC Industries' total expenses for Q1 2024 were ₹0.04 Lakhs.
4. What is the net loss reported by IGC Industries for Q1 2024?
IGC Industries reported a net loss of ₹0.04 Lakhs for Q1 2024.
5. How does IGC Industries’ Q1 2024 loss compare to the previous quarter?
IGC Industries' Q1 2024 loss of ₹0.04 Lakhs is an improvement from the previous quarter's loss of ₹1.30 Lakhs.
6. Did IGC Industries report any finance costs in Q1 2024?
No, IGC Industries did not report any finance costs in Q1 2024.
7. What is the book value per share for IGC Industries?
The book value per share for IGC Industries is ₹3.17.
8. How much did IGC Industries' net profit change from Q4 2023 to Q1 2024?
IGC Industries' net profit improved from a loss of ₹0.32 Crores in Q4 2023 to a break-even in Q1 2024.
9. How did IGC Industries’ total expenses in Q1 2024 compare to the same quarter last year?
IGC Industries' total expenses in Q1 2024 were significantly lower compared to ₹4.63 Lakhs in the same quarter last year.
10. What was the ROCE for IGC Industries recently?
The ROCE for IGC Industries was -4.99%.