MAAN Aluminium, a leading aluminium extrusion manufacturing company, has declared its financial results for the first quarter of the fiscal year 2024-25. In the report, MAAN Aluminium highlighted that its revenue decreased by 14.75 per cent year-on-year, totalling INR 176.78 crore versus INR 237.4 crore. On a quarter-on-quarter basis, the revenue stood 25.35 per cent lower than INR 237.4 crore.
Net income plunged by 66.6 per cent year-on-year and 53.43 per cent quarter-on-quarter to INR 3.39 crore. A year ago, the company’s net income was INR 10.15 crore, and a quarter earlier, it was INR 7.28 crore.
Operating income was also under pressure, reflecting a year-on-year plunge of 69.98 per cent and a quarter-on-quarter decline of 54.16 per cent to INR 3.69 crore.
Rising operational costs primarily affected the company’s Q1 financial results. The selling, general & administrative (SG&A) expenses rose 20.71 per cent quarter-on-quarter and increased 3.99 per cent year-on-year, indicating higher operational costs.
The company’s earnings per share (EPS) for Q1 stood at INR 0.63, down by 66.44 per cent Y-o-Y, reflecting the overall reduction in profitability for the company.
The company also recorded a downward trend in its market performance, indicating a challenging period. MAAN Aluminium delivered a -4.23 per cent return in the last one week, a -24.38 per cent return in six months, and a -14.55 per cent return year-to-date.
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