Hardwyn India, a constituent of S&P BSE SmallCap, has announced its Q3 results and has reported a significant increase in net profit (both sequentially and yearly) in the October to December 2023 quarter.
The company informed exchanges that its net profit was Rs 41 crore, a 25% YoY rise compared to the net profit of Rs 32.66 crore in the same period of 2023.
It also recorded a YoY net profit increase of over 200% compared to its Q2FY24 net profit of Rs 13.45 crore.
Hardwyn India’s total expenses in the third quarter of the current fiscal decreased to Rs 293.4 crore. It was Rs 345.26 crore in the previous quarter and Rs 302 crore in the same period of the previous financial year.
The company’s total revenue grew from Rs 347.3 crore in the third quarter of FY23 to Rs 351.35 crore in Q3FY24. In the first nine months of the current financial year, Hardwyn India reported a total revenue of Rs 989.17 crore, compared to Rs 952.15 crore in the April to December 2022 period.
During the first nine months, the small-cap company’s unaudited net profit reached Rs 64.57 crore, which is a 21.83% increase from its net profit of Rs 53 crore in the April to December 2022 period.
