Gujarat Toolroom Q4 Results: Net profit grows to over Rs 50 crore
Gujarat Toolroom Q4 Results: Gujarat Toolroom Ltd (GTL) reported a multi-fold jump in consolidated net profit to Rs 50.29 crore for the March 2024 quarter, mainly due to higher income.
Gujarat Toolroom Q4 Results: Gujarat Toolroom Ltd (GTL), a prominent player in the industrial and mining sectors, on Tuesday reported a multi-fold jump in consolidated net profit to Rs 50.29 crore in the fourth quarter of financial year 2024. Its net profit was Rs 73 lakh in the quarter ended March 2023, the company said in a regulatory filing.
The company's profit after tax witnessed a surge of 4,995 per cent, soaring from Rs 1.39 crores in FY23 to an impressive Rs 70.83 crores in FY24.
Total income surged to Rs 377.35 crore from Rs 1.64 crore in the year-ago period.
Total expenses also rose to Rs 326.72 crore as against Rs 61 lakh a year ago.
The earnings per share (EPS) of Gujarat Toolroom also experienced a surge of 5,000 per cent from 0.25 in FY23 to 12.75 in FY24.
Moreover, the company's Price-to-Earnings (P/E) ratio has undergone a notable transformation. With an EPS of 12.75 and a stock price of Rs. 30, the calculated P/E ratio stands at approximately Rs. 2.35
Ahmedabad-based Gujarat Toolroom is into manufacturing and assembling industrial machines and equipment.
Last week, the company announced plans to foray into the green energy sector by acquiring 65 acres of land in Gujarat to set up a green energy project at an investment of Rs 572 crore.
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