Eco Recycling Limited reports a massive 78 per cent increase in Net Profit for Q2 FY24

PNN

New Delhi [India], October 27: Eco Recycling Limited (BSE: 530643, NSE: ECORECO), India's first and leading professional E-waste Management Company today announced its unaudited financial results for the quarter ended 30th September 2023 (Q2 FY24).

Key Financials at a Glance:

Q2 FY24

* Total Revenue of Rs 10.08 crore, YoY growth of 75.30 %

* EBITDA of Rs 7.25 crore, YoY growth of 94.89 %

* EBITDA Margin of 71.85 %, YoY growth of 726 Bps

* Net Profit of Rs 6.12 crore, YoY growth of 78.43%

* Net Profit Margin of 60.71 %, YoY growth of 106 Bps

* EPS Of Rs 3.17, YoY growth of 78.09 %

H1 FY24

* Total Revenue of Rs 18.01 crore, YoY growth of 68.48 %

* EBITDA of Rs 13.04 crore, YoY growth of 92.90 %

* EBITDA Margin of 72.40 %, YoY growth of 917 Bps

* Net Profit of Rs 10.84 crore, YoY growth of 75.12 %

* Net Profit Margin of 60.19%, YoY growth of 228 Bps

* EPS Of Rs 5.61, YoY growth of 74.77%

Commenting on the performance, B K Soni - Managing Director of Eco Recycling Limited said, "Our endeavors in e-waste management and the promotion of eco-friendly practices have been gaining traction, yielding positive outcomes in our quarterly and half-yearly results. Environmental sustainability is paramount in today's world, and Eco Recycling Limited remains committed to spearheading the movement towards a cleaner and more sustainable future for India.

Government support for such initiatives is undeniably pivotal, as it will play a crucial role in fostering significant change and contributing to the development of a more environmentally conscious society."

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