Flomic Global Logistics Q1 results: Loss at ₹0.57Cr, Revenue increased by 62.41% YoY
Flomic Global Logistics Q1 results: Revenue increased by 62.41% YoY & loss at ₹0.57Cr
Flomic Global Logistics Q1 Results Live : Flomic Global Logistics Q1 Results Live: Flomic Global Logistics declared their Q1 results on 14 Aug, 2024. The topline increased by 62.41% year-on-year, reaching a significant growth milestone. However, the company reported a net loss of ₹0.57 crore for the quarter. This is a stark contrast to the same period last fiscal year, where the company had declared a profit of ₹0.95 crore.
On a quarter-over-quarter basis, revenue grew by 9.91%, indicating a steady rise in the company's operational activities. Despite this positive revenue growth, the company's profitability took a hit, influenced by rising operational costs.
The Selling, General & Administrative (SG&A) expenses saw an increase of 10.45% quarter-over-quarter and surged by 18.24% year-over-year. This rise in expenses has been one of the contributing factors to the reduced profitability seen in this quarter.
Operating income for the quarter was down by 30.5% on a quarter-over-quarter basis, but showed a marginal increase of 1.03% year-over-year. This mixed performance highlights the challenges and opportunities faced by the company in its operational efficiency.
The Earnings Per Share (EPS) for Q1 stood at ₹-0.31, marking a significant decrease of 159.62% year-over-year. This negative EPS further underscores the financial challenges the company is currently navigating through.
Overall, while Flomic Global Logistics has shown robust revenue growth, the increase in expenses and resultant net loss indicate areas that require strategic adjustments and cost management for improved future performance.
Flomic Global Logistics Financials
| Period | Q1 | Q4 | Q-o-Q Growth | Q1 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 110.82 | 100.83 | +9.91% | 68.24 | +62.41% |
| Selling/ General/ Admin Expenses Total | 9.06 | 8.2 | +10.45% | 7.66 | +18.24% |
| Depreciation/ Amortization | 7.02 | 5.81 | +20.8% | 4.83 | +45.29% |
| Total Operating Expense | 107.86 | 96.56 | +11.69% | 65.3 | +65.17% |
| Operating Income | 2.97 | 4.27 | -30.5% | 2.94 | +1.03% |
| Net Income Before Taxes | -0.73 | 2.53 | -128.86% | 1.28 | -157.02% |
| Net Income | -0.57 | 1.79 | -131.68% | 0.95 | -159.87% |
| Diluted Normalized EPS | -0.31 | 0.99 | -131.31% | 0.52 | -159.62% |
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