Kore Digital Q1 Results Revenue Decreases by 42.63% QoQ but Increases by 39.22% YoY

Kore Digital Q1 Results: Kore Digital's Q1 results for June 2024 show several changes compared to the previous quarter (QoQ) and year-over-year (YoY). The company's total revenue was 50.77 crores, which is significantly higher than 15.16 crores in the March 2023 quarter. However, this shows a decline of 42.63% QoQ, meaning revenue decreased compared to the last quarter. Year-over-year, the total revenue improved but was still affected by the QoQ drop.

Kore Digital’s total expenses for selling, general, and administrative costs were 0.40 crores, up from 0.18 crores in the previous quarter. This indicates a decrease of 69.75% QoQ. YoY, these costs have also been impacted, showing a trend in expense management. Depreciation and amortization costs rose to 0.34 crores from 0.21 crores, marking a 19.69% increase in QoQ. Year-over-year, these costs are rising, affecting overall financial performance.

Kore Digital’s Operating expenses increased to 43.64 crores from 12.79 crores, resulting in a 43.81% decrease in QoQ. Operating income was 7.13 crores, down 34.11% QoQ. Net income before taxes was 7.05 crores, showing a 41.97% decrease in QoQ. Finally, the diluted normalized earnings per share (EPS) decreased to 13.21 from 4.82, reflecting a 44.28% drop in QoQ and YoY. Overall, Kore Digital experienced some challenges in the recent quarter compared to both the previous quarter and the same quarter last year.+

Here’s a summary of Kore Digital's Q1 results:

Source: Here 

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Kore Digital Q1 Results 

Kore Digital earned a total income of 5,234.10 Lakhs for the quarter ending June 30, 2024. This is a significant increase from the 3,611.38 Lakhs earned in the same quarter last year. The company's revenue from operations was 5,076.82 Lakhs, which also saw a big rise compared to 3,454.10 Lakhs in the previous year. Other income remained steady at 157.28 Lakhs. 

Kore Digital’s total expenses for the quarter were 4,372.21 Lakhs, higher than the 2,918.20 Lakhs spent in the same quarter last year. The major expenses included costs of operations, changes in inventories, employee benefits, and other costs. Despite the increase in expenses, Kore Digital made a profit before tax of 704.62 Lakhs, which is higher than the 693.17 Lakhs made in the previous year. 

Kore Digital’s After accounting for taxes, which totaled 244.42 Lakhs, the net profit for the quarter was 529.64 Lakhs, up from 448.75 Lakhs last year. The earnings per share for the quarter were 13.21, slightly lower than 13.48 from the previous year. The company's paid-up equity share capital stayed the same at 400.80 Lakhs.

Here's a simplified version of the Statement of Unaudited Financial Results for the Quarter Ended June 30, 2024, with key figures highlighted:

Kore Digital Financial Metrics 

The Kore Digital table provides an overview of the company's financial metrics. The Market Cap of ₹ 942 Crores shows the total value of all its shares. The Current Price of ₹ 2,350 per share reflects its current trading value. The stock has reached a High of ₹ 2,534 and a Low of ₹ 269 in its trading history. The Stock P/E ratio of 57.2 means investors pay 57.2 times the company's earnings per share. The Book Value is ₹ 183 per share, representing the company's net worth. With a Dividend Yield of 0%, the company does not pay dividends.

Here’s a simplified summary of the key financial metrics for the stock:

Quarterly Results 

For Kore Digital, the financial results from December 2023 to June 2024 show some fluctuations. In December 2023, sales were high at Rs. 53.95 crores, but expenses were also significant at Rs. 48.30 crores, resulting in an operating profit of Rs. 5.65 crores with a lower operating profit margin of 10.47%. By March 2024, sales dropped to Rs. 34.54 crores, but expenses reduced to Rs. 28.83 crores, slightly increasing the operating profit to Rs. 5.71 crores with a margin of 16.53%.

Here are the quarterly results for Dec 2023, Mar 2024, and Jun 2024:

(Figures in Rs. Crores)

About Kore Digital 

Kore Digital is a company that focuses on telecommunications and infrastructure development. They have built over 600 cell sites in Mumbai and nearby areas to improve mobile coverage. They also work with various technologies like RTT, GBT, and microwave backhaul to enhance communication networks. 

Kore Digital manages a vast network of optical fiber cables, stretching more than 700 kilometers, across Mumbai and surrounding areas. This extensive infrastructure supports fast and reliable internet services. The company is known for its innovation in the telecom field and aims to keep improving communication solutions.