Industrial Investment Trust Limited (IITL) (BSE: 501295, NSE: IITL) announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.
Key Financial Highlights (Standalone)
Particulars
Q3 FY25 (₹ in Lakhs)
Q2 FY25 (₹ in Lakhs)
Q3 FY24 (₹ in Lakhs)
9M FY25 (₹ in Lakhs)
9M FY24 (₹ in Lakhs)
Revenue from Operations
(445.02)
1,382.24
785.52
1,980.50
1,771.03
Net Profit/(Loss)
(531.21)
861.19
1,956.83
965.81
2,317.88
Earnings Per Share (₹)
(2.35)
3.80
8.68
4.28
10.27
The company reported a net loss of ₹531.21 lakhs in Q3 FY25, compared to a profit of ₹1,956.83 lakhs in Q3 FY24.
The loss was primarily due to net fair value losses of ₹1,093.69 lakhs, reversing previous fair value gains.
Employee benefit expenses increased to ₹85.27 lakhs in Q3 FY25, up from ₹71.83 lakhs in Q3 FY24.
Key Financial Highlights (Consolidated)
Particulars
Q3 FY25 (₹ in Lakhs)
Q2 FY25 (₹ in Lakhs)
Q3 FY24 (₹ in Lakhs)
9M FY25 (₹ in Lakhs)
9M FY24 (₹ in Lakhs)
Revenue from Operations
(418.57)
1,447.38
742.05
2,198.44
1,873.62
Net Profit/(Loss)
(550.52)
899.89
4,105.99
1,053.75
4,457.94
Earnings Per Share (₹)
(2.29)
4.15
15.59
5.12
17.56
On a consolidated basis, the net loss stood at ₹550.52 lakhs in Q3 FY25, significantly lower than the ₹4,105.99 lakhs profit reported in Q3 FY24.
IITL’s subsidiary IITL Projects Limited continues to struggle, with accumulated losses exceeding ₹4,180.76 lakhs, rendering it a non-going concern.
Segment-Wise Performance (Consolidated)
Segment
Q3 FY25 Revenue (₹ in Lakhs)
Q3 FY24 Revenue (₹ in Lakhs)
Investment Activity
(445.02)
648.91
Real Estate Activity
56.66
103.68
Others
(29.61)
(0.09)
Investment activity saw a significant loss of ₹445.02 lakhs in Q3 FY25, down from a gain of ₹648.91 lakhs in Q3 FY24, reflecting market volatility.
Real estate revenue dropped to ₹56.66 lakhs from ₹103.68 lakhs in Q3 FY24.
Key Corporate Announcements & Financial Position
Impairment and Subsidiary Challenges
IITL Projects Limited has ceased to be a going concern, with liabilities exceeding total assets.
Capital Infraprojects Pvt. Ltd. is also under financial stress, with liabilities surpassing assets by ₹52.36 crore.
Merger & Amalgamation Plan
IITL has filed a merger scheme with NCLT to consolidate IITL Investrust Ltd. and IITL Management & Consultancy Pvt. Ltd. into a single entity.
Redeemable Preference Shares Modification
The company has restructured 70,00,000 preference shares, reducing the redemption rate to ₹50 per share (down from ₹110).
Management Commentary
Dr. Bidhubhusan Samal, Chairman of IITL, stated: "The third quarter posed challenges due to volatile market conditions affecting fair value gains. However, we remain committed to restructuring our operations and optimizing our asset base. Our proposed merger will streamline operations and enhance efficiency."
Outlook
The company aims to stabilize financial performance through cost-cutting and asset reallocation.
Investors are advised to monitor IITL’s ongoing merger developments and its impact on future profitability.