Nitiraj Engineers Q1 Results Income ₹453.46 Million & Loss ₹174.81 Million

Nitiraj Engineers Q1 Results 

Nitiraj Engineers has released its financial results for the first quarter of the fiscal year. The company's total income for the quarter ended March 30, 2024, was ₹453.46 million. This includes ₹426.99 million from operations and ₹26.47 million from other sources. In comparison, the total income for the same period last year was ₹1,193.57 million, showing a decrease.

Nitiraj Engineers’ total expenses for the quarter were ₹673.70 million. Major expenses included ₹556.00 million for materials, ₹146.99 million for employee benefits, and ₹81.02 million for depreciation. These expenses were higher than the ₹1,077.03 million recorded in the previous year.

Nitiraj Engineers reported a loss before tax of ₹220.24 million for the quarter. After accounting for taxes, which amounted to ₹55.43 million, the company's net loss was ₹174.81 million. The other comprehensive income, including gains on defined benefit plans, added ₹1.14 million to the net loss. Overall, the company experienced a significant loss for the quarter.

Source: Here 

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Nitiraj Engineers Q1 Results 2024-2025 Overview 

Nitiraj Engineers has announced its financial performance for the first quarter of the fiscal year 2024-2025. Despite lower other comprehensive income, the overall loss remained substantial, reflecting the company's challenges during this period.

Here is an overview of the results:

Nitiraj Engineers Financial Overview

Nitiraj Engineers is a company with a market capitalization of ₹265 Crores, meaning this is the total value of all its shares combined. The current share price is ₹258. The highest price the stock has reached is ₹303, while the lowest is ₹96. 

Here’s the financial data in table format:

Quarterly Results 

The financial results for Nitiraj Engineers show that sales increased significantly from Rs. 20.25 crore in December 2023 to Rs. 52.58 crore in March 2024 but then dropped sharply to Rs. 4.27 crore by June 2024. 

Here is a summary of the financial results:

About Nitiraj Engineers 

Nitiraj Engineers established in 1989, is a leading manufacturer of electronic weighing scales and systems in India. Under the brand name PHOENIX, the company has built a strong reputation in the electronic weighing industry. In addition to weighing scales, Nitiraj Engineers also produces currency counting machines and various security and automation products. Their motto, “Quality product at a reasonable price,” reflects their commitment to delivering high-quality products at affordable prices.

Nitiraj Engineers operates a modern manufacturing facility equipped with advanced technology, including PCB assembly lines, SMT machines, and tool rooms. All products are designed, developed, and manufactured in India, supporting the "Make in India" initiative. Nitiraj Engineers ensures strict quality control to meet international standards.

Nitiraj Engineers has a robust sales and service network across India, with branch offices and dealers providing prompt support. They also have distributors in the Middle East, SAARC countries, and Africa. Nitiraj Engineers is ISO 9001:2015 certified, has a BIS Certificate (ISI Mark), and is listed on the National Stock Exchange of India. With over 100,000 scales produced annually and more than 1,000,000 satisfied customers, Nitiraj Engineers continues to grow and meet customer needs effectively.