Earnings are generally an important financial documents released by publicly traded companies, providing a detail about the performance of the companies over a specific period, usually a quarter or fiscal year.
These reports include key metrics such as revenue, net income, earnings per share (EPS), and operating expenses, offering investors and analysts a detailed view of a company’s financial health.
The recently listed Gala Precision Engineering Limited on Saturday (September 28) released their Unaudited Standalone & Consolidated Financial Results for the quarter ended June 30, 2024.
"The consolidated financial results for the quarter ended June 30, 2024 were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on September 28, 2024," the company said in the regulatory filing.
Financial Highlights
Gala Precision reported consolidated total income of Rs 531.7 million for the quarter ended June 30, 2024 compared to Rs 463.82 million in the same period last year.
Revenue grew to Rs 537.97 million, up from Rs 467.27 million a year ago.
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The company reported a net profit of Rs 62.93 million, compared to Rs 45.44 million in Q1 FY24. Basic earnings per share (EPS) from continuing operations increased from Rs 4.51 to Rs 6.23 year-on-year, while diluted EPS climbed to Rs 6.14 from Rs 4.44.
The company has managed to maintain a healthy profit margin while controlling its expenses, which rose to Rs 454.90 million compared to Rs 410.62 million in the previous year.
Standalone Performance
On a standalone basis, the company reported a total income of Rs 537.97 million compared to Rs 455.21 million a year ago.
Standalone expenses were reported at Rs 454.78 million, up from Rs 385.25 million last year, resulting in a profit of Ra 63.51 million.
IPO and Market Reaction
Gala Precision Engineering went public on September 9, 2024.
The IPO offered 31,74,416 equity shares at an issue price of Rs 529 per share, which included a fresh issue and an offer for sale.
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The stock made a stellar debut, listing at Rs 750 per share on the BSE, a premium of 41.8 per cent over the issue price. On NSE, it opened at Rs 721.1, a 36.3 per cent premium.
"The equity shares of the holding have been listed on national stock exchange and on BSE limited (BSE) on september9, 2024 completing the initial public offer (the IPO) of 31,74,416 equity shares of face value of Rs 10 each at an issue price of Rs 529 per equity shares (including share premium of Rs 519 per equity share) consisting of a fresh issue of 25,58,416 equity shares and an offer for sale of 6,16,000 equity shares, the company added in the BSE filing.
Gala Precision Engineering Limited shares
The shares of the company on Friday (September 27) ended the week at Rs 828.00, up by 5.47 per cent.
