Gujarat Ambuja Exports (GAEL) Q3 23/24 earnings summary

Executive summary

• Q3 FY24 consolidated revenue from operations was ₹1,301.75 crore, PBT ₹131.14 crore and net profit ₹100.81 crore; auditor review raised no matter indicating material misstatement.

• Q3 results improved versus Q3 FY23 on revenue, PBT and net profit; nine-month net profit was lower YoY.

Financial highlights

• Consolidated Q3 revenue from operations was ₹1,301.75 crore versus ₹1,129.86 crore YoY; total income was ₹1,340.40 crore versus ₹1,157.74 crore.

• Consolidated Q3 PBT was ₹131.14 crore versus ₹109.12 crore YoY; net profit was ₹100.81 crore versus ₹81.92 crore.

• Consolidated 9M revenue from operations was ₹3,580.26 crore versus ₹3,480.49 crore; net profit was ₹254.48 crore versus ₹260.62 crore.

Segment performance

• Q3 Maize Processing revenue was ₹865.68 crore and segment profit ₹109.94 crore, versus ₹752.69 crore and ₹120.71 crore YoY.

• Q3 Other Agro Processing revenue was ₹420.98 crore and segment profit ₹11.49 crore, versus ₹371.64 crore and ₹0.58 crore YoY.

• Q3 Spinning revenue was ₹13.48 crore with a ₹3.70 crore segment loss; Renewable Power revenue was ₹1.61 crore with ₹0.70 crore profit.

• 9M segment profit: Maize Processing ₹320.90 crore, Other Agro Processing loss ₹15.98 crore, Spinning loss ₹10.18 crore and Renewable Power profit ₹3.85 crore.