R K Swamy's Profit Surges By 27% In Q3FY24

R K Swamy released its financial results for the nine months and quarter ended December 31, 2023. The company has reported robust performance across various key metrics, showcasing resilience and growth amidst challenging market conditions.

The gross margins, defined as Revenue from Operations less Operating expenses for the nine months ended December 31, 2023 witnessed an increase of 15 per cent compared to the corresponding period of the previous fiscal year. 

The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 16 per cent compared to the corresponding period of the previous fiscal year.

The Profit After Tax for the nine months ended December 31, 2023, registered a growth of 27 per cent compared to the corresponding period of the previous fiscal year. 

Consolidated Performance Highlights:

• Revenue from Operations: The Revenue from Operations for the nine months ended December 31, 2023 stood at Rs 21,323 lakhs, showing a marginal increase compared to the corresponding period of the previous fiscal year.
• Operating Expenses: The Operating Expenses for the nine months ended December 31, 2023, decreased to Rs 6,132 lakhs compared to ₹7,742 lakhs in the corresponding period of the previous fiscal year.
• Gross Margin Percentage: The Gross Margin percentage improved to 71 per cent for the nine months ended December 31, 2023, compared to 63 per cent in the corresponding period of the previous fiscal year.
• EBITDA Percentage to Total Income: The EBITDA percentage to Total Income increased to 16 per cent for the nine months ended December 31, 2023, compared to 14 per cent in the corresponding period of the previous fiscal year.
• PAT Percentage: The PAT percentage increased to 6 per cent for the nine months ended December 31, 2023, compared to 5 per cent in the corresponding period of the previous fiscal year.

Commenting on the results, Shekar Swamy, Group CEO, R K Swamy Limited said: “We are pleased to share the results with our new extended family of shareholders. Our recently concluded public offering of shares was subscribed 26 times. Our listed journey has begun and we are looking forward to the next phase of our growth journey.”

Rajeev Newar, Group CFO, R K Swamy Limited added: “Our industry performance is skewed towards the latter half of the year. The fourth quarter is usually the period when budgets are exhausted and tends to be the largest quarter. We are happy to report a 27% growth in PAT for the nine months ended December 31, 2023 as compared to the corresponding period of the previous Fiscal year.”