Surana Solar Q4 FY24 results : loss at ₹0.15Cr, Revenue decreased by 49.59% YoY

Surana Solar announced their Q4 FY24 results on 18 Apr, 2024, revealing a significant decline in revenue by 49.59% compared to the same period last year.

The company incurred a loss of ₹0.15Cr in Q4 FY24, in stark contrast to the profit of ₹0.25Cr reported in the previous fiscal year for the same period.

Quarter-on-quarter, the revenue dropped by 10.59%, indicating a challenging business environment for Surana Solar.

The Selling, general & administrative expenses saw a notable increase of 39.45% compared to the previous quarter, and a 19.42% rise year-on-year.

Operating income also faced challenges, declining by 37.6% sequentially, while showing a significant increase of 112.69% year-on-year.

The earnings per share (EPS) for Q4 FY24 stood at ₹-0.03, reflecting a substantial decrease of 157.22% year-on-year.

Despite the financial setbacks, Surana Solar managed to deliver positive returns to investors, with 3.67% return in the last week, 88.39% return in the last 6 months, and 31.53% return year-to-date.

As of now, Surana Solar holds a market capitalization of ₹215.52 Cr, with a 52-week high/low of ₹46.9 & ₹18.2 respectively.