Salt Trading Corporation Achieves Remarkable 212.93% Surge in Net Profit in Q1, Reports Strong Revenue Growth and Increased Operational Expenses
Tue, Nov 7, 2023 12:07 PM on Financial Analysis, Company Analysis, Latest,
Salt Trading Corporation Limited (STC) has announced its remarkable first-quarter results for the fiscal year 2080-81, showcasing a substantial leap in its financial performance and key operational metrics.
The company's net profit has soared to 1.91 crores in Q1 FY 2080-81, marking a remarkable surge of 212.93% from the Rs. 61.33 lakhs reported in the previous fiscal year (FY 2079-80).
STC continues to demonstrate robust financial health with a paid-up capital of Rs. 27.88 crores and Reserves and Surplus reaching Rs. 1.32 Arba in the first quarter of FY 2080-81. The company's revenue from sales has notably increased by 89.64%, totaling Rs. 2.92 Arba in the same period.
Despite these significant achievements, it is essential to note that the company faced increased interest expenses, rising by 13.90% and reaching Rs. 11.92 crores in Q1 FY 2080-81.
The enhancement in net profits has led to a commendable Annualized Earnings per Share (EPS, which now stands at Rs. 27.53. Simultaneously, the Net worth per Share stood at Rs. 575.84.
Alongside its financial performance, STC has incurred increased administrative expenses, totaling Rs. 3.89 crores, reflecting a rise of 14.82%. Similarly, staff expenses rose by 5.77%, amounting to Rs. 9.17 crores until the end of the first quarter of FY 2080-81.
Major Financial Highlights:
| Particulars (In Rs '000) | Salt Trading Corporation | ||
|---|---|---|---|
| Q1 2080/81 | Q1 2079/80 | Difference | |
| Paid Up Capital | 278,884.31 | 253,531.19 | 10.00% |
| Reserves and Surplus | 1,327,047.02 | 1,311,867.57 | 1.16% |
| Property, Plant & Equipment | 1,463,400.85 | 1,478,084.56 | -0.99% |
| Investments | 529,987.98 | 547,496.97 | -3.20% |
| Revenue from Sales | 2,929,022.11 | 1,544,550.39 | 89.64% |
| Selling Expenses | 2,663,805.78 | 1,320,229.38 | 101.77% |
| Other Income | 11,065.56 | 10,391.49 | 6.49% |
| Administrative Expenses | 38,957.40 | 33,929.74 | 14.82% |
| Staff Expenses | 91,777.98 | 86,767.56 | 5.77% |
| Interest Expenses | 119,265.82 | 104,712.45 | 13.90% |
| Net Profit | 19,194.35 | 6,133.66 | 212.93% |
| Annualized EPS (In Rs.) | 27.53 | 9.68 | 184.49% |
| Net Worth per Share (In Rs.) | 575.84 | 617.44 | -6.74% |
| Qtr end PE Ratio (times) | 182.45 | - | - |
| Qtr End Market Price | 5023 | - | - |
