Kore Foods Q2 Results Loss Narrows to ₹7.19 Crores

Kore Foods Q2 Results: Kore Foods reported its Q2 results for September 2023, and the figures show some interesting trends. First, looking at the total revenue, it remained at ₹0.00 in both September 2023 and June 2023, indicating no change in revenue on a quarter-on-quarter (QoQ) basis. This lack of revenue is concerning, especially when considering the year-over-year (YoY) perspective, as there might be no growth compared to previous years.

Kore Foods’ expenses dropped slightly from ₹0.05 crore in June 2023 to ₹0.04 crore in September 2023, which is a QoQ improvement. Similarly, other operating expenses also decreased from ₹0.06 crore to ₹0.04 crore during the same period, showing a positive trend YoY. However, total operating expenses decreased from ₹0.11 crore to ₹0.08 crore, demonstrating some cost control.

Kore Foods’ operating income and net income remained negative, with operating income at -₹0.08 crore, slightly better than -₹0.11 crore in the previous quarter. This is still a loss when viewed YoY, meaning the company is still not making a profit. The diluted normalized EPS also improved from -₹0.09 to -₹0.08, reflecting a small step in the right direction. Overall, while there are some signs of improvement on a quarter-on-quarter basis, the YoY figures highlight the need for Kore Foods to generate revenue and improve profitability significantly.

Here's a summary of Kore Foods' Q2 results for September 2023, presented in a clear table format:

(in Crores)

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results

Kore Foods Q2 Results

Kore Foods' financial results for the quarter ending September 30, 2024, show that the company continues to face operational challenges, reporting no sales revenue during the period. There was zero income from operations, which means the company didn’t make any money from selling its products or through other business activities. However, they still had expenses, such as employee benefits costing ₹4.70 lakhs and other expenses at ₹2.40 lakhs, adding up to ₹7.10 lakhs in total costs for the quarter.

Kore Foods had a net loss of ₹7.19 lakhs in the current quarter, which is smaller than the loss of ₹11.24 lakhs in the previous quarter. This reduction in loss is a small improvement, but the company is still operating in the red. Despite not generating revenue, Kore Foods has finance costs (₹0.08 lakhs) that also added to the expenses.

Kore Foods’ earnings per share (EPS), which tells shareholders how much profit or loss each share earned, is negative, at ₹-0.06 per share. This reflects the ongoing financial struggles, with no signs of profitability.

Here’s a summary of the unaudited financial results for Kore Foods for the quarter ended September 30, 2024:

Kore Foods Financial Metrics

The table shows financial information about Kore Foods. Its market cap is ₹9.63 crore, meaning the total value of the company’s shares is ₹9.63 crore. The current stock price is ₹8.27. Over the past year, the stock's highest price was ₹9.27, and the lowest was ₹5.92. The book value is ₹-3.33, which means the company's assets are worth less than its liabilities. There’s no dividend yield, meaning they don't pay dividends to shareholders. 

Here's the data you provided in table format:

Quarterly Results 

Kore Foods' financial data for March 2024, June 2024, and September 2024 shows consistent losses. The company reported no sales during these three quarters, meaning they didn’t earn any revenue. Expenses gradually decreased from ₹0.12 crores in March to ₹0.07 crores in September 2024. Due to high expenses and no income, the operating profit was negative, with losses reducing from ₹-0.12 crores in March to ₹-0.07 crores in September.

Here is the data for March 2024, June 2024, and September 2024:

About Kore Foods 

Kore Foods is an Indian company that processes and sells food products like almonds, cashew nuts, and pistachios. It was founded in 1983 and was originally called Phil Corporation. The company, based in Mapusa, India, serves the food and catering industries, including top hotels. In 2015, it changed its name to Kore Foods. Currently, Kore Foods is looking for new business opportunities and investors to help expand its operations and continue growing in the food industry.