63 Moons Technologies Consolidated Unaudited Financial Results for the Quarter and Six Months Ended September 30, 2024 : For the quarter ended September 30, 2024, the company reported a decline in profitability, reflecting a challenging period. The results show a substantial decrease in both income and profit, alongside higher operational costs.
Key highlights :
Total Income
The company achieved ₹7,656.18 lakhs in total income for Q2 2024, which is lower than the previous quarter’s ₹8,754.07 lakhs and significantly lower than ₹19,506.73 lakhs in Q2 2023. This decline was driven primarily by reduced operating income, particularly in the revenue from operations, which fell to ₹3,843.13 lakhs from ₹3,869.74 lakhs in Q1 2024.
Expenses
The total expenses for the quarter were ₹10,085.91 lakhs, an increase from ₹9,787.46 lakhs in the previous quarter. Notably, employee benefits expense, finance costs, and other expenses remained significant contributors to the cost structure, affecting profitability.
Profit Before Tax (PBT)
The company recorded a loss before tax of ₹(2,429.73) lakhs, marking a notable deterioration from a profit of ₹9,630.59 lakhs in Q2 2023 and a loss of ₹1,033.39 lakhs in Q1 2024.
Net Profit / Loss
The net loss after taxes for Q2 2024 stood at ₹(2,441.71) lakhs, a sharp decline from the profit of ₹7,987.20 lakhs in Q2 2023.
Share of Profit/Loss of Associates
The company reported a modest share of profit from its associates at ₹34.24 lakhs in Q2 2024, compared to ₹159.20 lakhs in Q2 2023. This drop reflects lower profitability from associated entities.
Non-Controlling Interest
The net loss attributable to non-controlling interest for the quarter was ₹517.48 lakhs, an increase from ₹254.48 lakhs in Q1 2024.
Other Comprehensive Income
The company recorded an other comprehensive loss of ₹(93.23) lakhs, which is lower than the previous quarter’s ₹(6.84) lakhs.
Earnings Per Share (EPS)
The basic/diluted EPS for Q2 2024 was ₹(4.10), a significant deterioration compared to ₹17.88 in Q2 2023.
Total Comprehensive Income
The total comprehensive income for the quarter was a loss of ₹(1,983.22) lakhs, further reflecting the company’s financial struggles amid the challenging market conditions.