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- Spectrum Foods Q1 Results ₹218.53 Lakhs Net Profit and ₹338.62 Lakhs in Total Expenses
Spectrum Foods Q1 Results ₹218.53 Lakhs Net Profit and ₹338.62 Lakhs in Total Expenses
Spectrum Foods Q1 Results show a 142.5% QoQ profit turnaround to ₹218.53 lakhs from a loss of ₹514.50 lakhs, despite a 12% QoQ drop in net sales. Spectrum Foods Q1 Results also feature a 71% reduction in total expenses.
by P Nandhini
Updated Aug 29, 2024
Table of Content
Spectrum Foods Q1 Results: Spectrum Foods announced its Q1 results on August 12, 2024, showcasing a significant turnaround from the previous quarter. The company reported a net profit of ₹218.53 lakhs for the quarter ending June 30, 2024, compared to a loss of ₹514.50 lakhs in the previous quarter, reflecting a remarkable improvement.
This marks a dramatic shift from the negative performance seen in Q4 2023-2024, highlighting a recovery of approximately 142.5% in net profit. The company also experienced a 12% decrease in net sales, which fell to ₹557.15 lakhs from ₹633.04 lakhs in Q4 2023-2024.
Despite this decline in revenue, Spectrum Foods managed to lower their total expenses by around 71% from ₹1,167.63 lakhs in Q4 2023-2024 to ₹338.62 lakhs in Q1 2024-2025. This reduction in costs contributed to positive financial performance, underscoring effective cost management and operational efficiency improvements.
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Spectrum Foods Q1 Results 2024 - 2025
Spectrum Foods declared its Q1 results on August 12, 2024, revealing a significant recovery from the previous quarter's loss. The results demonstrate a marked turnaround in financial performance, with notable improvements in net profit despite a decrease in revenue.
Below is a detailed breakdown of the company's financial performance for Q1 2024 compared to Q4 2023-2024:
| Particulars | Q1 2024 (₹ Lakhs) | Q4 2023-2024 (₹ Lakhs) | % Change (QoQ) |
|---|---|---|---|
| Net Sales/Income from Operations | 557.15 | 633.04 | -12.0% |
| Other Operating Income | 0.00 | 0.00 | - |
| Total Income from Operations | 557.15 | 633.04 | -12.0% |
| Cost of Materials Consumed | 412.07 | 953.66 | -56.8% |
| Purchase of Stock in Trade | 0.00 | 0.00 | - |
| Change in Inventories | -228.98 | 33.42 | -782.0% |
| Employee Benefit Expenses | 19.41 | 38.71 | -50.0% |
| Depreciation | 22.49 | 27.20 | -17.4% |
| Other Expenses | 113.63 | 114.64 | -0.9% |
| Total Expenses | 338.62 | 1,167.63 | -71.0% |
| Profit/(Loss) from Operations | 218.53 | -534.59 | 142.5% |
| Other Income | 21.51 | 0.00 | - |
| Profit/(Loss) Before Finance Costs | 218.53 | -513.08 | 142.5% |
| Finance Costs | 1.42 | 0.00 | - |
| Profit/(Loss) Before Tax | 218.53 | -514.50 | 142.5% |
| Net Profit/(Loss) | 218.53 | -514.50 | 142.5% |
| Paid-Up Equity Share Capital | 1,454.52 | 484.84 | +200.0% |
| Earnings per Share (Basic) | 1.50 | -10.61 | - |
| Earnings per Share (Diluted) | 1.50 | -10.61 | - |
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Spectrum Foods Current Market Overview
Spectrum Foods is currently trading at ₹25.5 per share on the Bombay Stock Exchange, down by 5% recently. The company has a market capitalization of ₹58.8 crore, with its stock price ranging from a high of ₹42.4 to a low of ₹19.3.
The stock has a price-to-earnings ratio (P/E) of 31.8 and a book value of ₹0.55. While it does not offer a dividend, Spectrum Foods shows strong financial performance with a return on capital employed (ROCE) of 104% and a return on equity (ROE) of 203%.
| Metric | Value |
|---|---|
| Current Price | ₹25.5 |
| Market Capitalization | ₹58.8 Crore |
| High / Low | ₹42.4 / ₹19.3 |
| Stock P/E Ratio | 31.8 |
| Book Value | ₹0.55 |
| Dividend Yield | 0.00% |
| ROCE | 104% |
| ROE | 203% |
Quarterly Results
Here is a summary of Spectrum Foods's performance for the recent quarters ending December 2023, March 2024, and June 2024:
| Metric | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|
| Sales (₹ Cr.) | 5.12 | 6.33 | 5.57 |
| Expenses (₹ Cr.) | 3.36 | 11.41 | 3.16 |
| Operating Profit (₹ Cr.) | 1.76 | -5.08 | 2.41 |
| OPM (%) | 34.38% | -80.25% | 43.27% |
| Other Income (₹ Cr.) | 0.01 | 0.22 | 0.00 |
| Interest (₹ Cr.) | 0.01 | 0.01 | 0.00 |
| Depreciation (₹ Cr.) | 0.25 | 0.27 | 0.22 |
| Profit Before Tax (₹ Cr.) | 1.51 | -5.14 | 2.19 |
| Tax % | 0.00% | 0.00% | 0.00% |
| Net Profit (₹ Cr.) | 1.51 | -5.15 | 2.19 |
| EPS (₹) | 0.62 | -2.13 | 0.90 |
About Spectrum Foods
Spectrum Foods, founded in 1984 and based in Jaipur, is a prominent manufacturer and trader of salt and spices in North India. The company produces a range of salt products under the brands Surya Salt, Tota Salt, and Saboo Salt, and offers a variety of spices, including turmeric, chili powder, cumin, and coriander, in different forms.
Spectrum Foods is also involved in guar gum production, which is used in multiple industries such as food, pharmaceuticals, and textiles. Known for its focus on quality and innovation, the company operates in both the B2B and consumer markets and is listed on the Bombay Stock Exchange under the ticker SPECFOOD.
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Spectrum Foods Q1 Results - FAQs
1. What are the net profit figures for Spectrum Foods for Q1 2024?
Spectrum Foods reported a net profit of ₹218.53 lakhs for Q1 2024.
2. How did Spectrum Foods' net profit in Q1 2024 compare to the previous quarter?
The net profit in Q1 2024 was ₹218.53 lakhs, a significant recovery from the loss of ₹514.50 lakhs in the previous quarter.
3. What was the percentage change in Spectrum Foods' net sales from Q4 2023-2024 to Q1 2024?
Spectrum Foods experienced a 12% decrease in net sales from ₹633.04 lakhs in Q4 2023-2024 to ₹557.15 lakhs in Q1 2024.
4. What were the total expenses for Spectrum Foods in Q1 2024?
The total expenses for Spectrum Foods in Q1 2024 were ₹338.62 lakhs.
5. What was the cost of materials consumed by Spectrum Foods in Q1 2024?
The cost of materials consumed by Spectrum Foods in Q1 2024 was ₹412.07 lakhs.
6. What was the profit from operations for Spectrum Foods in Q1 2024?
The profit from operations for Spectrum Foods in Q1 2024 was ₹218.53 lakhs.
7. How much did Spectrum Foods pay in finance costs during Q1 2024?
Spectrum Foods paid ₹1.42 lakhs in finance costs during Q1 2024.
8. What was Spectrum Foods' earnings per share (EPS) in Q1 2024?
The earnings per share (EPS) for Spectrum Foods in Q1 2024 were ₹1.50 (basic and diluted).
9. What was the depreciation expense for Spectrum Foods in Q1 2024?
The depreciation expense for Spectrum Foods in Q1 2024 was ₹22.49 lakhs.
10. What was the total income from operations for Spectrum Foods in Q1 2024?
The total income from operations for Spectrum Foods in Q1 2024 was ₹557.15 lakhs.