Rolex Rings PAT slides 49% YoY to Rs 24 crore in Q4 FY24

Rolex Rings' consolidated net profit declined 49.1% to Rs 23.62 crore in Q4 FY24 as compared with Rs 46.41 crore in Q4 FY23.

Revenue from operations rose 5.63% year on year (YoY) to Rs 316.34 crore in the fourth quarter of FY24.

Profit before tax and exceptional itmes increased 11.01% to Rs 63.37 crore in March 2024 quarter from Rs 57.09 crore in same quarter last year.

Exceptional items during the quarter stood at Rs 32 crore, a provision accounted towards probable demand against waiver of the ROR rights.

EBITDA grew 17.59% to Rs 76.2 crore in fourth quarter of FY24 from Rs 64.8 crore in Q4 FY23. EBITDA margin improved to 23.8% in Q4 FY24 as against 21.6% in corresponding quarter previous fiscal.

On a full year basis, the companys consolidated net profit fell 21.23% to Rs 156.04 crore on 3.63% rise in revenue from operations to Rs 1,221.76 crore in FY24 over FY23.

Gujarat-based Rolex Rings manufactures forged and machined components in India.

The scrip zoomed 15.92% to currently trade at Rs 2,615 on the BSE. The counter hit a life-time high of Rs 2,678.85 in todays intraday session.

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