Sharika Enterprises Ltd. (SEL), a distinguished leader in the Power Sector reported an exceptional financial performance for the first quarter of 2024. The company achieved a consolidated net profit of Rs 7.71 crore, marking an impressive 458.70% increase compared to Rs 1.38 crore in the same quarter of the previous year.
Additionally, sales for the quarter rose by 37.26%, reaching Rs 29.36 crore as opposed to Rs 21.39 crore during the corresponding period last year. For the full fiscal year ended March 2024, Sharika Enterprises reported a net profit of Rs 1.53 crore, a significant turnaround from the net loss of Rs 3.32 crore recorded in the previous year. Annual sales also saw substantial growth, surging by 55.69% to Rs 78.42 crore compared to Rs 50.37 crore in the year ended March 2023.
Commenting on the results, Rajinder Kaul, Chairman & Managing Director, Sharika Enterprises said, “Our commitment to strategic growth and operational excellence is aptly reflected through our exceptional performance in this quarter. While the substantial increase in net profit and sales has underscored the dedication of our team it has also brought in light the trust of our stakeholders. We look forward to keep this momentum intact on the back of our strong financial performance throughout this fiscal year and in the upcoming quarters.”
This outstanding performance reflects Sharika Enterprises' robust business model and its ability to navigate and thrive in a dynamic market environment. The company's strategic initiatives and focus on customer satisfaction have been key drivers of this growth trajectory.
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