Q1 FY27 results, auditor change and director re-appointment approved
AXITA · price
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Board approved Q1 FY27 results: revenue from operations Rs 5,828 lakhs (down about 4.5% YoY), net profit Rs 359 lakhs versus a loss of Rs 234 lakhs in Q1 FY26, a sharp turnaround. Statutory auditor P K N and Co resigned citing internal firm restructuring, explicitly stating no disagreement with management or audit concerns. DTA and Associates appointed to fill the casual vacancy. Independent Director Vinod Rana re appointed for a second 5 year term. New internal and cost auditors also appointed for FY27.
Auditor exit is due to firm-level restructuring, not audit concerns. Strong profit rebound in Q1 is positive. Watch for shareholder approval of new auditor.