Outcome of Board meeting
Price
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Awaiting price reaction for this filing.
The Board approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended 30 June 2025). Standalone revenue from operations fell to Rs 22,816.96 lakhs vs Rs 39,997.12 lakhs in Q1 FY25, but profit after tax improved sharply to Rs 64.86 lakhs (vs Rs 25.09 lakhs) and basic EPS rose to Rs 0.20 (vs Rs 0.08). On a consolidated basis, profit after tax was Rs 101.89 lakhs (vs Rs 1,038.28 lakhs, which included a one-time share of associate profit). The Board also allotted 24,900 equity shares of Rs 2 each under ESOP 2017 to 7 employees, raising paid-up share capital from Rs 6,38,56,688 to Rs 6,39,06,488. Mr. Sujan Sinha was named Chairman of the Board and Mr. Harshvardhan Raghunath as Chairman of the NRC, both effective 1 August 2025. The results note an ongoing IMPS reconciliation issue involving Rs 189.87 lakhs, with Rs 97.02 lakhs recovered and Rs 48 lakhs in loss provisions booked so far.
Revenue contraction year-on-year is significant but profitability has improved, suggesting better margins or cost control in the core forex and remittance business. Minor ESOP dilution and routine board appointments are neutral; shareholders should watch recovery of the flagged IMPS-related receivables.