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ATV Projects India Ltd reported Q1 FY26 revenue from operations of Rs 1,525.89 lakhs, down about 23% from Rs 1,983.20 lakhs in Q1 FY25. Despite the revenue dip, net profit for the quarter rose to Rs 201.25 lakhs, up roughly 26% from Rs 159.95 lakhs a year ago, helped by lower material costs and a favorable change in inventory. Total expenses fell to Rs 1,330.80 lakhs from Rs 1,826.68 lakhs, lifting the profit before tax to Rs 199.89 lakhs versus Rs 157.88 lakhs. Basic EPS for the quarter stood at Rs 0.38 (vs Rs 0.30 in Q1 FY25). The statutory auditor RHAD & Co. issued an unqualified limited review report with no qualifications or emphasis of matter.
Short-term shareholders may view the result positively because profits grew even as revenue fell, suggesting improved cost efficiency. However, the sharp year-on-year revenue decline could weigh on sentiment if the trend continues, and no tax provision was made due to carried-forward losses, which signals past profitability issues.