Authum Investment April-June Net Profit Drops 14% On Lower Revenue

Authum Investment and Infrastructure Ltd. reported a 13.9% on-year fall in net profit to ₹9.41 billion for the June quarter, as a decline in revenue weighed on overall performance.

Revenue from operations was ₹12.10 billion, down 14.3% on year, while other income rose sharply to ₹89.90 million from ₹9.70 million a year earlier.

Total expenditure dropped significantly to ₹777.20 million from ₹1.72 billion in the year-ago period, but finance costs more than doubled to ₹197.90 million, indicating increased borrowing or interest expenses.

The company’s tax outgo for the quarter rose to ₹2.00 billion, up from ₹1.49 billion a year ago.

Meanwhile, the board has approved the appointment of whole-time director Amit Dangi as the chairman, effective Monday.