Signatureglobal (India) Reports Rs 60.79 million Profit in Q1 FY25

08 Aug 2024 CW Team

Signatureglobal (India) reported a net consolidated profit after tax of Rs 60.79 million for the quarter ending June 30, 2024. This compares to a net loss after tax of Rs 70.18 million for the same quarter of the previous fiscal year, as stated in a BSE filing by the company.

The company's net consolidated total income for Q1 FY25 was Rs 4.27 billion, marking a significant growth of 139.23 per cent from Rs 1.78 billion recorded in the corresponding quarter last year.

Pradeep Kumar Aggarwal, the chairman and wholetime director of the company, indicated that the company had already achieved 30 per cent of its annual pre-sales target within the first quarter. He also mentioned plans to launch several projects in the upcoming quarters, which is expected to enhance their operational targets.

The board of directors appointed Gaurav Malik as the chief financial officer and key managerial personnel, effective August 8, 2024. Additionally, Manish Garg was re-designated as the deputy chief financial officer, effective from the same date.

For the quarter, the company achieved pre-sales of Rs 31.2 billion in Q1 FY25, reflecting a year-on-year growth of 255 per cent. Collections for Q1 FY25 increased by 102 per cent to Rs 12.1 billion, compared to Rs 6 billion in Q1 FY24.

The company's net debt decreased to Rs 9.8 billion by the end of Q1 FY25, down from Rs 11.6 billion at the end of FY24.

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