Safari Industries (India) reported 11.07% decrease in consolidated net profit to Rs 44.41 crore in Q1 FY25 as compared to Rs 49.94 crore recorded in Q1 FY24.
However, revenue from operations grew by 5.47% year on year (YoY) to Rs 450.02 crore in the quarter ended 30 June 2024.Profit before tax stood at Rs 57.51 crore during the first quarter of FY25, down 12.53% from Rs 65.75 crore posted in same quarter last year.
Total expenses spiked 10.33% YoY to Rs 400.73 crore in June 2024 quarter. Cost of material consumed was at Rs 138.17 crore (up 21.02% YoY) and employee benefits expenses stood at Rs 26.60 crore (up 10.05% YoY) during the quarter.
On standalone basis, the companys net profit fell 19.97% to Rs 36.71 crore in Q1 FY25 as against 45.87 crore reported in Q1 FY24. However, revenue from operation increased by 5.44% YoY to Rs 449.46 crore in Q1 FY25.
Safari Industries (India) is engaged in the manufacturing and marketing of luggage and luggage accessories.
The scrip rallied 3.93% to close at Rs 2,223.40 on the BSE.
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