Ajmera Realty & Infra India (ARIIL) has reported a growth of 82.11 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax (after minority interest) stood at Rs 21.07 crore in Q1 FY24 as against Rs 11.57 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 117.57 crore in Q1 FY24, a growth of 113.30 per cent from Rs 55.12 crore it recorded in the similar quarter last year.
Dhaval Ajmera, director, ARIIL said, “We are pleased to announce that our company has delivered a stellar performance in Q1 FY24, witnessing a remarkable 96% quarter-on-quarter sales growth at 1,35,460 sq ft.”
Sales value was at Rs 225 crore, up 60% quarter-on-quarter while sales volume was at 1,35,460 sq ft, up 96% quater-on-quarter. Collection was up 8% quarter-on-quarter and stood at Rs 111 crore. Its debt-equity ratio was at 0.97x.
“Our efficient debt management efforts, resulted in reduction of weighted avg. cost of debt to 11.9% for Q1 FY24, as compared to 13.7% for Q4 FY23 on account of financial performance and credit profile improvements, also we successfully achieved debt/equity ratio of 0.97 vs 1.12 YoY, a sub 1x ratio,” said Ajmera.