Business News | Eco Recycling Limited Announces Consolidated Q1 FY24 Results, Total Income at Rs 79.30 Mn, PAT at Rs 47.10 Mn

PNN

Mumbai (Maharashtra) [India], July 21: Eco Recycling Limited (BSE: 530643, NSE: ECORECO), India's first and leading professional E-waste Management Company announced its unaudited financial results for the quarter ended 30th June 2023 (Q1FY24).

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Key Financials at a Glance: 

• Total Income of Rs 7.93 crore, YoY growth of 60.53 per cent

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• EBITDA of Rs 5.80 crore, YoY growth of 90.16 per cent

• EBITDA Margin is 73.07 per cent, YoY growth is 1133 bps.

• PAT of Rs 4.71 crore, YoY growth of 70.65 per cent.

• PAT Margin is 59.39 per cent, YoY growth is 352 bps.

• EPS of Rs 2.44, YoY growth of 70.63 per cent

Commenting on the performance, B K Soni – Managing Director of Eco Recycling Limited, said, "We started FY24 on a very positive note with our total income rising by 61 per cent and net profit by 71 per cent. Recycling is gaining importance, and we are helping industries towards a sustainable economy."

Eco Recycling Limited is India's leading E-waste Management Company, providing a seamlessly integrated solution for handling E-waste, including asset removal, inventory management, packing, reverse logistics, data destruction, asset recovery, recycling, and more. The company ensures compliance with international standards by utilizing technologies from the US, Europe and Japan, as well as developing their own in-house solutions for precious metal recovery, data destruction, and lamp recycling. Their clientele encompasses a wide range of organizations, MNCs, Retailers, government departments, NGOs, households, and educational institutions.

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