Cindrella Fin and Nitta Gelatin have both reported notable increases in net profit for September 2023, even as they faced declines in net sales. Cinderella Fin's net sales dropped to just Rs.0.01 crore, yet the company saw its net profit soar to Rs.0.04 crore, with EBITDA surging by 300%. The company's shares closed at Rs.16.67, delivering robust returns over the last six and twelve months.
Similarly, Nitta Gelatin experienced a dip in net sales by 4.13% year-on-year to Rs 139.77 crore; however, its net profit rose significantly by more than half to Rs. 22.02 crore. EBITDA for the company also grew by a quarter to Rs. 34.13 crore, and earnings per share (EPS) escalated from Rs. 16.12 to Rs. 23.45.
In contrast, other firms like Elcid Investments and CIAN Agro Industries faced tougher challenges. Elcid Investments witnessed a sharp downturn in its financials for September, with net sales plummeting nearly one-third to Rs 22.57 crore and net profits falling to Rs 15.56 crore—a marked decrease from the previous year. The company's EPS also sharply declined to Rs 778.20 from last year's Rs 1,114.88.
CIAN Agro Industries' September sales saw a significant drop to Rs. 22.63 crore from the prior year's figure of Rs. 52.04 crore, while its net profit leaped to Rs. 0.52 crore from just Rs. 0.10 crore in September of the previous year, marking an over sixfold increase percentage-wise. Despite this jump in profit and a modest growth in EBITDA to Rs. 6.83 crore from Rs. 6.63 crore year-on-year, the company's shares closed at Rs.37 .90 on November .23, reflecting a negative return of -7 .56 % over six months and -26 .97 % over the past year.
These mixed results highlight the varied performance within different sectors of the market and underscore how companies can manage profitability despite fluctuations in sales figures.
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