Foreign Institutional Investor (FII)-backed stock has unveiled its fourth-quarter financial results for the fiscal year 2023-24. The small-cap entity reported a substantial surge in total revenue, reaching Rs 56.7 crore for the quarter ending March 31, 2024. This marked a significant increase from the Rs 36.5 crore recorded in the corresponding period of the previous fiscal year.
Revenue breakdown
The company’s revenue from operations witnessed a commendable rise, standing at Rs 48.38 crore for the fourth quarter of FY 2023–24. This represents a notable escalation from both the previous quarter’s figure of Rs 33.36 crore and the fourth quarter of the preceding financial year, which reported revenue of Rs 39.45 crore.
Profit before tax analysis
Ok Play India Limited disclosed a profit before tax of Rs 7.68 crore in the fourth quarter of the last financial year. While this figure represents a remarkable improvement compared to the meager Rs 9 lakh reported in the previous quarter, it is slightly lower than the Rs 10.08 crore recorded in the third quarter of the last fiscal year.
Encouraging sales growth
Earlier indications from Ok Play India hinted at a promising upward trajectory, with sales in the fourth quarter of FY 2023–24 soaring by approximately 13% year-on-year to Rs 60.08 crore. This demonstrates a notable increase from the company’s total sales of Rs 53.26 crore during the January-March quarter of FY 2022–23.
Narrowed losses
In a positive development, Ok Play India has narrowed its losses during the January-March quarter of 2024, reporting a net loss of Rs 0.71 crore. This contrasts favourably with the net loss of Rs 2.03 crore incurred during the corresponding quarter of the previous fiscal year.
