Kanpur, India | January 30, 2025 – Mirza International Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2024, following the approval of its Board of Directors.
Key Financial Highlights (₹ in Lakhs)
Standalone Performance
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
11,415.87
19,783.91
13,725.12
44,911.85
46,018.36
60,272.08
Total Income
11,466.83
19,826.40
13,860.92
45,042.27
46,657.93
60,985.48
Profit/(Loss) Before Tax
(913.15)
459.96
632.19
(271.17)
1,741.73
1,876.89
Net Profit/(Loss)
(696.15)
311.96
486.69
(248.17)
1,309.23
1,397.89
EPS (Basic & Diluted)
(0.50)
0.23
0.35
(0.18)
0.95
1.01
Consolidated Performance
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
11,437.69
20,139.13
14,166.78
45,927.97
47,797.02
63,035.82
Total Income
11,491.80
20,170.03
14,321.56
46,034.36
48,541.83
63,837.13
Profit/(Loss) Before Tax
(783.39)
731.83
585.74
58.68
1,518.63
1,659.61
Net Profit/(Loss)
(568.63)
589.71
439.54
85.28
1,084.91
1,203.83
EPS (Basic & Diluted)
(0.41)
0.43
0.32
0.06
0.79
0.87
Segment Performance
Mirza International operates in two primary segments:
The National Company Law Tribunal (NCLT), Allahabad Bench approved the merger of TNS Hotels And Resorts Private Limited with Mirza International Limited on January 24, 2025.
No new shares will be issued as TNS Hotels was a wholly-owned subsidiary.
GST Liabilities:
The company has received six orders under GST law aggregating ₹145.17 crores on a disputed issue.
Appeals have been filed, and the management believes no provisions are necessary.
Accounting Adjustments (Ind AS 116 - Leases):
Rent expenses reduced by ₹8.82 lakh (Standalone) and ₹9.75 lakh (Consolidated).
Depreciation and finance costs increased slightly.
Net positive impact on profit before tax of ₹7.88 lakh (Standalone) and ₹9.03 lakh (Consolidated).
Management Commentary
Harshita Nagar, Company Secretary & Compliance Officer, stated: "Despite the ongoing challenges, Mirza International remains committed to operational efficiencies and long-term growth. We continue to focus on our core business segments while ensuring financial prudence and compliance with regulatory requirements."
Outlook
The merger with TNS Hotels is expected to enhance operational synergies.
Footwear exports continue to be the key revenue driver.
The ongoing GST appeals remain a crucial regulatory matter for investors to track.
Market conditions remain dynamic, and the company is focused on optimizing costs and increasing profitability.
