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- Kovalam Investment & Trading Company Q1 Results 2024, PAT of Rs 101.83 Lakhs
Kovalam Investment & Trading Company Q1 Results 2024, PAT of Rs 101.83 Lakhs
Kovalam Investment & Trading Company Ltd's Q1 2024 results show a strong increase in income and profits, with total comprehensive income rising to Rs 1,231.32 lakhs.
by P Nandhini
Updated Aug 07, 2024
Table of Content
For the first quarter of 2024, Kovalam Investment & Trading Company Ltd (KITCL) reported a total income of Rs 109.02 lakhs, a significant increase compared to Rs 74.47 lakhs in the previous quarter. This growth was driven primarily by strong performance in their brokerage services, which generated Rs 22.84 lakhs in income.
The company also saw a notable gain from fair value changes, contributing Rs 70.40 lakhs to their total income. Despite a rise in total expenses to Rs 2.39 lakhs, the company achieved a profit before tax of Rs 106.63 lakhs, up from Rs 72.99 lakhs in the last quarter.
KITCL's profit after tax for Q1 2024 was Rs 101.83 lakhs, a significant increase from Rs 55.12 lakhs in the previous quarter. Additionally, the company reported a substantial gain in other comprehensive income, reaching Rs 1,129.50 lakhs, which boosted their total comprehensive income to Rs 1,231.32 lakhs.
The company's balance sheet remains strong, with no significant changes in liabilities and a steady equity share capital of Rs 222.39 lakhs. Overall, KITCL's performance in Q1 2024 reflects robust growth and a positive outlook for the remainder of the year.
Kovalam Investment & Trading Company Q1 Results 2024
Here is a summary of Kovalam Investment & Trading Company Ltd's financial performance for the first quarter of 2024:
| Particulars | 30.06.2024 | 31.03.2024 | 30.06.2023 | 31.03.2024 |
|---|---|---|---|---|
| Income | ||||
| (a) Interest Income | 7.79 | 7.85 | 8.95 | 34.20 |
| (b) Dividend Income | - | 8.95 | - | 20.69 |
| (c) Brokerage Income | 22.84 | 51.59 | 23.03 | 125.48 |
| (d) Net gain on fair value changes | 70.40 | 6.00 | 59.00 | 172.43 |
| (e) Other Incomes | - | - | - | - |
| Total Income from operations | 109.02 | 74.47 | 97.05 | 361.00 |
| Expenses | ||||
| (a) Finance expenses | - | - | - | - |
| (b) Employee Benefit Expenses | 0.94 | 0.84 | 1.20 | 4.37 |
| (c) Impairment on financial instruments | - | - | - | - |
| (d) Net gain on fair value changes | - | - | - | - |
| (e) Other expenses | 1.46 | 0.64 | 1.81 | 7.30 |
| Total Expenses | 2.39 | 1.48 | 3.01 | 11.67 |
| Profit before Tax | 106.63 | 72.99 | 86.05 | 349.33 |
| Tax expense | ||||
| (a) Current Tax | 7.10 | 16.81 | 7.29 | 44.52 |
| (b) Deferred Tax | (2.30) | 1.06 | 0.72 | (0.34) |
| (c) Earlier Years | - | - | - | - |
| Total tax expense | 4.80 | 17.87 | 8.01 | 44.18 |
| Profit after tax | 101.83 | 55.12 | 80.03 | 305.15 |
| Other comprehensive income, net of tax | ||||
| Items that will not be reclassified to profit or loss | 1,129.50 | (693.43) | 212.19 | 124.14 |
| Total other comprehensive income, net of tax | 1,129.50 | (693.43) | 212.19 | 124.49 |
| Total comprehensive income | 1,231.32 | (638.31) | 220.10 | 154.66 |
| Paid-up equity share capital | 222.39 | 222.39 | 222.39 | 222.39 |
| Reserves excluding revaluation reserve | 8,568.41 | |||
| Earnings per share (EPS) | ||||
| Basic and Diluted EPS before extraordinary items | ||||
| Basic (Rs.) | 13.72 | 3.60 | 13.72 | |
| Diluted (Rs.) | 13.72 |
Source: Click Here
Kovalam Investment & Trading Company Ltd
Kovalam Investment & Trading Company Ltd (KITCL) is a financial company based in Ludhiana, India. Established in 1981 and listed on the Bombay Stock Exchange, it focuses on investing in various financial assets like shares and bonds.
KITCL also provides brokerage services and engages in lending activities to take advantage of market opportunities. The company adheres to high standards of transparency and regulatory compliance, ensuring its operations are in line with legal and financial norms.
Kovalam Investment & Trading Company Q1 Results 2024 - FAQs
1. What is Kovalam Investment & Trading Company Ltd (KITCL)?
KITCL is a financial company that invests in various assets and provides brokerage services. It is based in Ludhiana, India.
2. When was KITCL established?
The company was established on November 28, 1981.
3. What was KITCL’s total income for Q1 2024?
KITCL reported a total income of Rs 109.02 lakhs for the first quarter of 2024.
4. How did KITCL’s income in Q1 2024 compare to the previous quarter?
The income increased from Rs 74.47 lakhs in the previous quarter to Rs 109.02 lakhs in Q1 2024.
5. What were the main sources of income for KITCL in Q1 2024?
The main sources were brokerage income and net gains from fair value changes.
6. What were KITCL’s total expenses for Q1 2024?
The total expenses were Rs 2.39 lakhs in Q1 2024.
7. What was KITCL’s profit before tax for Q1 2024?
The profit before tax was Rs 106.63 lakhs.
8. How much profit after tax did KITCL report for Q1 2024?
KITCL reported a profit after tax of Rs 101.83 lakhs.
9. What was KITCL’s total comprehensive income for Q1 2024?
The total comprehensive income was Rs 1,231.32 lakhs.
10. What are KITCL’s earnings per share (EPS) for Q1 2024?
The EPS for Q1 2024 was Rs 13.72.
11. Who reviews KITCL’s financial results?
KITCL’s financial results are reviewed by the Audit Committee and the Board of Directors.