Aditya Birla Money ends flat post Q1 earnings

On Sensex, the stock has touched an intraday high and low of Rs37.55 per piece and Rs35.05 per piece, respectively amid Q1 announcement.

Jul 16, 2020 04:07 IST India Infoline News Service

Result Analysis
Aditya Birla Money has witnessed a downward trend in top-line, however, recorded gradual growth in the bottom-line front for the first quarter ending June 2020 (Q1FY21). The company presented its financial performance on Thursday, after which it's stock finished at Rs35.75 per piece down by 0.56% on Sensex.

In Q1FY21, the company posted a net profit of Rs3.54cr compared to a profit of Rs3.49cr in the corresponding period of the previous year and Rs2.79cr of the preceding quarter.

Total revenue from operations stood at Rs43.84cr in Q1 as against Rs44.70cr a year ago same period and Rs44.54cr of the previous quarter. The revenue, however, was mellowed due to growth recorded in the sales of service which stood at Rs29.64cr higher from Rs24.19cr of Q4FY20.

In its financial audit report, Aditya Birla Money said, "The novel coronavirus (COVID-19) pandemic spread continues across the globe including India. During the nation-wide lock-down period, securities market intermediaries continue to operate, being exempted from the lock-down and related restrictions. The Board of Director of the Company has at the time of approving the financial information, assessed the potential impact of the COVID-19 on the Company, including but not limited to, going concern status. Barring any future COVID- 19 related escalations, based on the current assessment, the impact of COVID -19 on the operations of the Company and the carrying value of its assets and liabilities is not likely to be material".

On Sensex, the stock has touched an intraday high and low of Rs37.55 per piece and Rs35.05 per piece respectively amid Q1 announcement. 

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