Praveg Ltd share Price Today

Advertising & Media company Praveg announced Q4FY24 & FY24 results:

FY24 Financial Highlights:

• Total Income for FY24: Rs 94.55 crore, showing growth from Rs 84.85 crore in FY23.
• EBITDA for FY24: Rs 32.14 crore, declining from Rs 45.29 crore in FY23.
• EBITDA Margin for FY24: 34%, down from 53% in FY23.
• Net Profit for FY24: Rs 12.99 crore, decreasing from Rs 28.43 crore in FY23.
• Net Profit Margin for FY24: 14%, down from 34% in FY23.
• EPS (Diluted) for FY24: Rs 5.78, declining from Rs 14.78 in FY23.

Q4FY24 Financial Highlights:

• Total Income for Q4FY24: Rs 33.49 crore, indicating a significant increase from Rs 18.99 crore in Q4FY23.
• EBITDA for Q4FY24: Rs 9.46 crore, with a slight decrease from Rs 9.91 crore in Q4FY23.
• EBITDA Margin for Q4FY24: 28%, a notable decrease from 52% in Q4FY23.
• Net Profit for Q4FY24: Rs 1.63 crore, significantly lower compared to Rs 5.17 crore in Q4FY23.
• Net Profit Margin for Q4FY24: 5%, a substantial decrease from 27% in Q4FY23.
• EPS (Diluted) for Q4FY24: Rs 0.73, significantly lower compared to Rs 2.68 in Q4FY23.
• Preferential allotment of 14,90,000 equity shares at Rs 670/- in February 2024.
• Preferential allotment of 1,75,000 equity shares converted from warrants at Rs 487/- during the quarter ended March 31, 2024.

Commenting on the results, Chairman Vishnu Patel remarked, "Our operational resorts have garnered an exceptional response from our esteemed guests, who have expressed tremendous appreciation for the unparalleled hospitality we offer. I am elated by the progress we are witnessing. Each new property development infuses our team members with a renewed sense of enthusiasm and purpose, allowing them to witness firsthand the remarkable achievements they are capable of realizing.

"Our strategic focus remains on attaining exemplary results across both our hospitality and exhibition segments, while concurrently emphasizing prudent cost minimization. As we look ahead to FY25, we are strategically positioned to leverage the development of new resorts and properties, expanding our total number of operational rooms from 636 in FY24 to over 1,300 rooms. Our objectives are ambitious yet attainable, aiming to augment our occupancy levels to between 45% and 50%.

These concerted efforts are poised to yield auspicious outcomes for our overall performance this year, propelling our operations to unprecedented heights of success and excellence."

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