Kurlon Enterprises Ltd. has released its financial results for FY24

28 June 2024

The company has released its FY24 results, which indicate a decline in performance. Revenue decreased by 4.5%, dropping from Rs. 859 Cr. in FY23 to Rs. 819 Cr. Additionally, the company incurred a loss of Rs. 51 Cr. in FY24, following a profitable FY23. This resulted in a significant decline in earnings per share (EPS), from Rs. 2.9 to Rs. -14.0.

The company's total asset base also saw a substantial decrease of 30%, falling from Rs. 757 Cr in FY23 to Rs. 531 Cr in FY24. Total equity decreased by 40% during the same period, primarily due to reduced retained earnings. This reduction in retained earnings was driven by lower profits and an adjustment made by the holding company.