Safari Industries Q1 PAT slides 11% YoY to Rs 44 crore

However, revenue from operations grew by 5.47% year on year (YoY) to Rs 450.02 crore in the quarter ended 30 June 2024.

Profit before tax stood at Rs 57.51 crore during the first quarter of FY25, down 12.53% from Rs 65.75 crore posted in same quarter last year.

Total expenses spiked 10.33% YoY to Rs 400.73 crore in June 2024 quarter. Cost of material consumed was at Rs 138.17 crore (up 21.02% YoY) and employee benefits expenses stood at Rs 26.60 crore (up 10.05% YoY) during the quarter.

On standalone basis, the company’s net profit fell 19.97% to Rs 36.71 crore in Q1 FY25 as against 45.87 crore reported in Q1 FY24. However, revenue from operation increased by 5.44% YoY to Rs 449.46 crore in Q1 FY25.

Safari Industries (India) is engaged in the manufacturing and marketing of luggage and luggage accessories.

The scrip rallied 3.93% to close at Rs 2,223.40 on the BSE.