June quarter profit falls as revenue drops; board approves up to Rs 70 crore loans
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On the reaction day the stock moved 3.9 pts less than Nifty Microcap 250 and 3.9 pts less than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board approved unaudited June-quarter company and group results without auditor qualifications. Operating revenue fell to Rs 944.31 million from Rs 1,203.25 million a year earlier. Standalone profit after tax dropped to Rs 29.90 million from Rs 88.84 million; group profit was Rs 32.48 million versus Rs 89.36 million. The prior-year quarter included a major port contract. The board also approved up to Rs 70 crore in loans from three directors.
Revenue and profit declines may pressure the stock. Director loans of up to Rs 70 crore support cash needs but suggest promoter funding reliance.