Gujarat Ambuja Exports (GAEL) Q1 23/24 earnings summary

Executive summary

• Q1 FY24 consolidated revenue from operations was ₹1,162.99 crore and net profit was ₹70.90 crore; prior-year quarter figures were ₹1,272.86 crore and ₹114.60 crore, respectively.

• The Board approved unaudited standalone and consolidated results and recommended five-year reappointments for the Chairman and Managing Director and a Whole-time Director, subject to member approval.

Financial highlights

• Consolidated total income was ₹1,189.53 crore, including ₹26.54 crore of other income; total expenses were ₹1,097.29 crore.

• Consolidated profit before tax was ₹92.24 crore and net profit after tax was ₹70.90 crore, versus ₹155.38 crore and ₹114.60 crore in Q1 FY23.

• Standalone revenue from operations was ₹1,162.99 crore and net profit was ₹70.82 crore, versus ₹1,272.86 crore and ₹114.60 crore in Q1 FY23.

Segment performance

• Maize Processing revenue was ₹790.03 crore and segment profit was ₹100.31 crore, versus ₹791.72 crore and ₹117.30 crore in Q1 FY23.

• Other Agro Processing revenue was ₹352.81 crore and segment loss was ₹10.17 crore, versus revenue of ₹473.72 crore and profit of ₹50.73 crore in Q1 FY23.

• Spinning revenue was ₹17.67 crore with a ₹3.08 crore segment loss; Renewable Power revenue was ₹2.48 crore with ₹1.54 crore segment profit.