Mumbai: In the fourth quarter of FY24 (January to March 2024), several companies that previously reported losses have managed to turn profitable. Data from Ace Equity highlights these successful turnarounds, with companies such as Piramal Pharma, Inox Wind Energy, BHEL, Sunteck Realty, and Tejas Networks showing significant improvements in their financial results. Here’s a closer look at these companies and their financial performance:
Piramal Pharma
Piramal Pharma achieved a profit of ₹89.23 crore in Q4FY24, a notable improvement compared to its average loss of ₹43 crore in the previous three quarters. The company’s revenue from operations also grew by 18% year-on-year, reaching ₹2,552 crore.
SAMHI Hotels
Newly listed SAMHI Hotels reported a net profit of ₹11.29 crore in the fourth quarter. This is a significant turnaround from the ₹74 crore loss it reported in the preceding quarter (Q3FY24).
Sagar Cements
Sagar Cements, an Andhra Pradesh-based cement manufacturer with a production capacity of 10.6 million tonnes, reported a profit of ₹11.59 crore in Q4FY24. This follows three consecutive quarters of losses.
Inox Wind Energy
Inox Wind Energy, which specialises in wind turbine generators and wind energy solutions, recorded a profit of ₹38.8 crore in Q4FY24. In the first three quarters of FY24, the company had losses of ₹65 crore, ₹59 crore, and ₹4 crore respectively.
BHEL
BHEL reported a profit of ₹476 crore for the fourth quarter of FY24. The company had previously recorded losses of ₹360 crore, ₹250 crore, and ₹171 crore in Q1, Q2, and Q3 of FY24 respectively.
Centrum Capital
Centrum Capital achieved a profit of ₹39 crore in Q4FY24, a recovery from losses of ₹65 crore, ₹28 crore, and ₹18 crore in the first three quarters of the fiscal year.
GE Power India
GE Power India reported a profit of ₹23 crore in Q4FY24, turning around from losses of ₹136 crore, ₹62 crore, and ₹2 crore in the first three quarters of FY24.
Sterling and Wilson Renewable Energy
Sterling and Wilson Renewable Energy posted a modest profit of ₹1 crore in Q4FY24. In contrast, the company had losses of ₹95 crore, ₹55 crore, and ₹62 crore in Q1, Q2, and Q3 of FY24 respectively.
Sunteck Realty
Sunteck Realty reported a profit of ₹102 crore in Q4FY24. The company had faced losses of ₹6 crore, ₹15 crore, and ₹10 crore in the previous three quarters.
Tejas Networks
Tejas Networks reported a profit of ₹147 crore in Q4FY24. The company turned around from losses of ₹26 crore, ₹13 crore, and ₹45 crore in the first three quarters of the fiscal year.
These companies have shown remarkable improvement in their financial performance, moving from losses to profits in the latest quarter. This turnaround highlights their resilience and ability to adapt to changing market conditions.
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