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Arihant Superstructures' Q4 FY23 net profit drops to Rs 23 lakh

#Taxation & Finance News#India
PNT Reporter | Last Updated : 29th May, 2023
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Synopsis

During Q4 FY23, Arihant Superstructures, a prominent real estate company, witnessed a significant decline of 97.67 percent in its net profit. The company reported a profit after tax of Rs 23.47 lakh, a substantial decrease from the Rs 9.87 crore achieved in the same quarter of the previous fiscal year. The consolidated revenue for the quarter stood at Rs 66.05 crore, reflecting a decline of 7.32 percent compared to the corresponding quarter in the previous year.

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During Q4 FY23, Arihant Superstructures, a prominent real estate company, witnessed a significant decline of 97.67 percent in its net profit. The company reported a profit after tax of Rs 23.47 lakh, a substantial decrease from the Rs 9.87 crore achieved in the same quarter of the previous fiscal year. The consolidated revenue for the quarter stood at Rs 66.05 crore, reflecting a decline of 7.32 percent compared to the corresponding quarter in the previous year.




In a separate regulatory filing, it was announced that Virendra Mital, an independent director, would be stepping down from his position on May 22, 2023, upon the completion of his second five-year term. Additionally, the board of directors appointed Dhhaj Jopat as the chief financial officer (CFO) of Arihant Superstructures, effective from the same date.



The board has proposed a final dividend of Rs 0.50 per equity share with a face value of Rs 10 for the fiscal year 2022-23, as mentioned in a regulatory filing.



Arihant Superstructures Ltd. is a renowned player in the real estate industry and holds listings on prestigious stock exchanges like the NSE, BSE, and Bloomberg. The company is committed to providing its customers with affordable and high-quality lifestyles, which serves as a core principle of the group.
Next (RBI reports 3.1% rise in India�s housing prices with Kolkata in the lead)

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