API Holding Ltd.- FY24 result

12 September 2024

For FY24, API Holding reported a decrease in revenue by 16.3%, dropping from Rs 6644cr in FY23 to Rs 5564cr. This decline was primarily due to reduced revenue from both product sales and services. However, despite the lower revenue, the company's operating margins improved, with the operating loss narrowing from Rs -1540cr in FY23 to Rs -699cr in FY24. This improvement is attributed to decreased employee benefit expenses and a reduction in other operational costs. Additionally, the net loss for the company decreased from Rs -5212cr in FY23 to Rs -2534cr in FY24, indicating a reduction in the financial shortfall, though the company still faced a negative net profit.