Manaksia Aluminium witnesses a Y-o-Y 17% decline in revenue and 68% plunge in net profit during Q1 FY24

On Saturday, July 29, Manaksia Aluminium Company, one of the leading producers of aluminium sheet and coil, announced its quarterly financial results for the period ended June 30, 2023. The company reported a 24.32 per cent quarter-on-quarter downfall in total income from INR 121.1212 crores to INR 91.6667 crores.

On a year-on-year calculation, the total income of Q1 FY2024 stood 17.20 per cent lower than INR 110.7086 crores.

Manaksia also declared in its financial results a 47.97 per cent Q-o-Q plunge in net profit. In Q1 FY2023-24, the company yielded a net profit of INR 1.1019 crores as compared to INR 2.1180 crores in Q4 FY2022-23. On an annual basis, the net profit nosedived by 68.17 per cent from INR 3.4623 crores.

Manaksia’s EPS also fell quarter-on-quarter during Q1 FY2023-24 by 46.88 per cent from INR 0.32 to INR 0.17. Over a year, EPS contracted by 67.92 per cent from INR 0.53.

On the same day the report was published, Manaksia’s stock hit an intraday high of INR 26.64 and intraday low of INR 25.35. The net turnover during the day was INR 628042.00.