Arihant Superstructure has reported a growth of 35.90 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 16.05 crore in Q2 FY24 as against Rs 11.81 crore it registered in the similar quarter last year, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 109.04 crore in Q2 FY24, a dip of 9.79 per cent from Rs 120.88 crore it recorded in the similar quarter last year.
The board of directors of the company approved issuance of 20,90,000 warrants on a preferential basis, each carrying a right to subscribe to 1 equity share at an exercise price of Rs 180.071 per warrant aggregating to Rs 37.63 crore.
The board also approved to acquire Dwellcons at face value of Rs 10 per share accordingly the total acquisition cost will be Rs one lakh.
The proposed acquisition has been undertaken at the book value per share of the company as on October 30, 2023. The said acquisition will enable us to undertake any existing and future new business through this subsidiary company thereby saving time & related costs for formation of new company, it said in the regulatory filing.
