Arihant Superstructures' net profit falls drastically in Q4 FY2

23 May 2023 CW Team

Arihant Superstructures reported a 97.67% decrease in net consolidated profit for the quarter ending March 31, 2023. Its profit after tax was Rs 23.47 lakh in Q4 FY23, compared to Rs 98.7 billion in the previous fiscal's corresponding period, according to a BSE filing.

The company's net consolidated total income was Rs 665 billion in Q4 FY23, a 7.32 percent decrease from Rs 712.7 billion in the same period prior year.

In a separate regulatory filing, the business stated that Virendra Mital will step down as an independent director on May 22, 2023, after completing his second five-year term.

The board of directors authorized the appointment of Dhhaj Jopat as the company's chief financial officer, effective May 22, 2023.

The board also recommended a final dividend of Rs 10 per equity share for the fiscal year 2022-2023, according to the regulatory filing.

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