Garbi Finvest Q1 Results Revenue Drops 86.43% to ₹0.44 Crores & Operating Income Falls 91.15% to ₹0.26 Crores

Garbi Finvest Q1 Results Income Growth 

Garbi Finvest Q1 Results: Garbi Finvest experienced a big drop in its financial performance compared to the previous quarter (March 2023) in the first quarter of 2023. The company's total revenue fell sharply by 86.43%, from 3.23 crores to just 0.44 crores. This drop in revenue is a major concern. Their selling, general, and administrative expenses also decreased by 29.39%, from 0.15 crores to 0.10 crores, meaning they spent less on these costs.

Operating expenses, which include all the costs related to running the business, went down by 27.72%, from 0.24 crores to 0.17 crores. Despite these reductions in expenses, the company’s operating income dropped significantly by 91.15%, from 2.99 crores to only 0.26 crores. This indicates that their core business operations were not performing well.

Net income before taxes decreased by 81.75%, from 3.93 crores to 0.72 crores, and the net income fell by 82.14%, from 3.00 crores to 0.54 crores. This drop in net income reflects the overall poor financial health. The diluted normalized earnings per share (EPS), which measures the company’s profitability per share, also dropped by 82.03%, from 2.56 to 0.46. This means that shareholders earned much less per share than before.

Here are the quarterly results for Garbi Finvest for Q1:

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Garbi Finvest Stock Performance 

Garbi Finvest is a company with a market capitalization of ₹19.4 crore. This value represents the total worth of all its shares combined. The current price of each share is ₹16.6. Over the past, the highest price the shares have reached is ₹37.0, while the lowest was ₹14.5. This range shows how much the stock price has varied.

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Quarterly Results 

Garbi Finvest had very low sales of Rs. 0.39 crores for December 2023, and high expenses of Rs. 1.14 crores, resulting in an operating loss of Rs. 0.75 crores with a negative operating profit margin. In March 2024, sales slightly increased to Rs. 1.17 crores, but expenses were even higher at Rs. 2.80 crores, causing a larger operating loss of Rs. 1.63 crores. 

Here are the quarterly results for December 2023, March 2024, and June 2024:

About Garbi Finvest

Garbi Finvest, formerly known as Golden Properties & Traders, is a company that deals with investments and financial services. The company recently updated its approach to handling shareholder communications in line with new regulations from the Ministry of Corporate Affairs (MCA).

On April 21, 2011, the MCA introduced a circular encouraging companies to use electronic methods for delivering documents. This move is part of a broader Green initiative aimed at reducing paper use and promoting environmental sustainability in corporate governance.

In response to this initiative, Garbi Finvest plans to send important documents, such as the Notice of the Annual General Meeting (AGM) and Annual Reports, to shareholders via email. This change means that instead of receiving these documents in physical form, shareholders can opt to receive them electronically, which is quicker and more environmentally friendly. 

Shareholders are encouraged to provide their email addresses to receive these documents electronically. However, if any shareholder prefers to continue receiving physical copies, they can choose that option. This approach reflects the company's commitment to modernizing its operations while supporting green practices.