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Stock Report
Arvind SmartSpaces Ltd Q1FY22 consolidated net profit at Rs. 2.49 crore
Posted On : 2021-08-06 13:32:19( TIMEZONE : IST )
Arvind SmartSpaces Limited has reported financial results for the period ended June 30, 2021.
Financial Results (Q1 FY 2021-22) - QoQ Comparison
The company has reported total income of Rs.28.19 crores during the period ended June 30, 2021 as compared to Rs.65.61 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.2.49 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.6.57 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.0.70 for the period ended June 30, 2021 as compared to Rs.1.85 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY20-21 | % Change |
| Total Income | ₹ 28.19 crs | ₹ 65.61 crs |  -57.03% |
| Net Profit | ₹ 2.49 crs | ₹ 6.57 crs | -62.1% |
| EPS | ₹ 0.70 | ₹ 1.85 | -62.16% |
Financial Results (Q1 FY 2021-22) - YoY Comparison
The company has reported total income of Rs.28.19 crores during the period ended June 30, 2021 as compared to Rs.10.77 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.2.49 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(4.83) crores for the period ended June 30, 2020.
The company has reported EPS of Rs.0.70 for the period ended June 30, 2021 as compared to Rs.(1.36) for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 28.19 crs | ₹ 10.77 crs |  161.75% |
| Net Profit | ₹ 2.49 crs | ₹ (4.83) crs | 151.55% |
| EPS | ₹ 0.70 | ₹ (1.36) | 151.47% |
Commenting on the results and outlook of the company, Mr. Kamal Singal, Managing Director and CEO, Arvind SmartSpaces commented, "Industry was impacted severely during second wave of Covid-19 especially in the first two months of the quarter. Sequentially both launches and Sales in the Industry are impacted. However, our company has recorded strong growth in Fresh Sales by ~400% albeit on a lower base. The collections are strong for the quarter resulting into overall reduction of 45% in Net interest bearing funds by Rs. 62 Cr. We expect that the momentum will continue and further improve in the near future. On financial side, revenues, EBIDTA and PAT have seen strong positive momentum as compared to the corresponding quarter of last year."
Mr. Singal further added that "With the optimistic business outlook along with strong cash flows, the Company is aggressively looking to acquire new projects in the near term to further strengthen inventory pipeline and continue its Sales momentum."
"The company has ten ongoing projects totaling more than 14.9 million sq. ft. under various stages of development which would be completed over the next 3-5 years. Currently, we are operating out of Ahmedabad, Gandhinagar, Bangalore and Pune. We intend to further consolidate project pipeline across these cities and are well poised to take advantage of opportunities which are expected to come under the current business environment while cautiously treading through the challenges." Mr. Singal further added.
Shares of Arvind SmartSpaces Limited was last trading in BSE at Rs. 129.4 as compared to the previous close of Rs. 132. The total number of shares traded during the day was 16184 in over 610 trades.
The stock hit an intraday high of Rs. 133.8 and intraday low of 126.9. The net turnover during the day was Rs. 2102886.
