Narmada Agrobase Ltd has reported a manifold jump in net profit to Rs 1.29 crore in the July-September quarter on lower expenses.
Revenue from operations for the second quarter of 2024-25 stood at Rs 10.24 crore as against Rs 11.40 crore in the previous year, the company said in a statement.
Expenses declined to Rs 8.51 crore in the second quarter of FY25 from Rs 11.24 crore in the year-ago period. Operating profit or earnings before interest and tax depreciation amortisation increased to Rs 2.06 crore due to lower inventory and raw material costs.
The company remains optimistic about its growth prospects in the next quarters with continued focus on key growth factors such as expansion into new markets, enhancing product offerings, the company said in a statement.
The company recently raised Rs 36.58 crore through a rights issue, which will be used to fund its expansion plans. Shares of Narmada Agrobase closed 4 per cent higher at Rs 15 on the BSE.