Rydak Syndicate Limited Result Update FY24

27 May 2024

​Rydak Syndicate has released its financial results for the quarter and year ending March 31, 2024. The company experienced a 1.5% increase in annual revenues, rising from Rs. 139 cr. in FY23 to Rs. 141 cr. in FY24. However, net profit saw a significant decline of 57%, dropping from Rs. 11 cr. in FY23 to Rs. 5 cr. in FY24. 

For the fourth quarter, the company reported a 5% growth in revenues, which went up from Rs. 13.7 crore in Q4 FY23 to Rs. 14.4 crore in Q4 FY24. Despite this revenue increase, the net loss expanded by 15%, increasing from Rs. 12 cr. in Q4 FY23 to Rs. 14 cr. in Q4 FY24. 

Overall, the year-on-year results were unfavorable, with net profit significantly decreasing. The net profit margin also fell, dropping from 8.2% to 3.5%.