Safari Industries (India) reported 25.40% decrease in consolidated net profit to Rs 29.66 crore in Q2 FY25 as compared to Rs 39.76 crore recorded in Q2 FY24.
However, revenue from operations grew by 23.72% year on year (YoY) to Rs 457.79 crore in the quarter ended 30 September 2024.Profit before tax stood at Rs 37.84 crore during the second quarter of FY25, down 27.07% from Rs 51.89 crore posted in same quarter last year.
Total expenses spiked 33.01% YoY to Rs 427 crore in September 2024 quarter. Cost of material consumed was at Rs 148.63 crore (up 53.03% YoY) and employee benefits expenses stood at Rs 30.18 crore (up 21.54% YoY) during the quarter.
On standalone basis, the companys net profit fell 36.04% to Rs 21.82 crore in Q2 FY25 as against 34.12 crore reported in Q2 FY24. However, revenue from operation increased by 23.72% YoY to Rs 457.32 crore posted in Q2 FY25.
Meanwhile, the companys board declared an interim dividend of Rs 1.50 per share for FY25. The said interim dividend will be paid on or before 6 December 2024.
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Safari Industries (India) is engaged in the manufacturing and marketing of luggage and luggage accessories.
Shares of Safari Industries (India) fell 0.81% to currently trade at Rs 2,241.55 on the BSE.
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