Lotus Chocolate Company said that it has reported net profit of Rs 0.80 crore in Q4 FY24 as compared with net loss of Rs 6.80 crore in Q4 FY23.
Revenue from operations stood at Rs 52.88 crore in Q4 FY24, steeply higher than Rs 12.33 crore in Q4 FY23.The company reported a pre-tax profit of Rs 0.89 crore in Q4 FY24 as compared with a pre-tax loss of Rs 5.78 crore in Q4 FY23.
Total expenses surged 203.59% to Rs 52.46 crore in Q4 FY24 as compared with Rs 17.28 crore in Q4 FY23. The cost of material consumed stood at Rs 43.40 crore (up 249.72%), and employee benefit expenses were at Rs 1.62 crore (up 14.08%) during the period under review.
On a consolidated basis, the companys net profit stood at Rs 1.18 crore in Q4 FY24, steeply higher than Rs 0.28 crore in Q3 FY24. Revenue from operations jumped 26.83% QoQ to Rs 65.81 crore in Q4 FY24.
Lotus Chocolate Company manufactures the finest chocolates, cocoa products, and cocoa derivatives. Its products are supplied to chocolate makers and chocolate users across the world, from local bakeries to multinational companies. It is owned by Reliance Consumer Products (RCPL), which is the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures (RRVL), which is a subsidiary of Reliance Industries (RIL).
The scrip surged 11.46% to end at Rs 449.45 on Tuesday, 16 April 2024. The domestic market is shut down on account of Ram Navami.
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