Mumbai, June 12 || Kent RO Systems, a water purifier company, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).
While this marks an important milestone for the company, its financials tell a mixed story with some concerns.
Kent RO’s latest financial data reveals a strong profit jump in FY24, but this comes after a sharp fall in the previous fiscal (FY23).
The company had posted a profit of Rs 166.5 crore for the year ended March 31, 2024, compared to Rs 97.1 crore in FY23.
While this is a big jump of around 71 per cent, it’s important to note that the profit had dropped by over 37 per cent in FY23 from Rs 154.2 crore in FY22.
The company’s total expenses also rose by 6.42 per cent year-on-year (YoY), from Rs 976.9 crore in FY23 to Rs 1,039.6 crore in FY24.
According to the DRHP, the company reported revenue from operations of Rs 1,178.1 crore for the FY24, compared to Rs 1,084.3 crore in the previous financial year.