Business News | Starlineps Enterprise Ltd Standalone Net Profit in H1FY25 Up 298% Y-o-Y to Rs 6.10 Crore

PNN

Surat (Gujarat) [India], November 18: Starlineps Enterprise Ltd (BSE: 540492), leading dealers of precious stones, have announced excellent operational and financial performance in Q2FY25 ended September 2024. For the six months that ended in September 2024 (H1FY25), on a standalone basis, the company reported a Net Profit of Rs 6.10 crore, a growth of 298% compared to Rs 1.54 crore in H1FY24. The company also reported revenue of Rs 41.70 crore, up by 225% compared to Rs 12.84 crore for the half-year that ended in September 2023. Company's market capitalisation as on 14 November 2024 was Rs. 267.42 crore.

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The company has reported a standalone Net Profit of Rs 3.25 crore, a growth of 167% compared to Net Profit of Rs 1.22 crore reported in Q2FY24. The company reported revenue of Rs 24.43 crore for Q2FY25, a growth of 169% compared to Rs 9.07 crore revenue in Q2FY24.

The company recently incorporated a wholly owned subsidiary, 'Starlineps International Private Limited', to carry on the Business of Goldsmiths, Silversmiths, Jewellers, Gem merchants, makers, hires, dealers, stockiest, agents, importers and exporters of bullion, diamond, pearls and precious stones, jewels, precious or semi-precious metals, ornaments and jewellery.

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Standalone Financial Highlights

The company recently announced bonus issue of 1:5 i.e. 1 (One) Bonus Equity Share of the Face Value of Rs. 1 each fully paid up for every 5 (Five) existing Equity Shares of Face Value of Rs. 1 each fully paid up. The company also approved a stock split from Rs. 5 to Re 1 per share, subject to shareholder approval via postal ballot and other necessary clearances (Ratio 5:1).

Established in 2011, Starlineps Enterprises Ltd is a Surat-based wholesale and retail trader of diamonds and jewellery. The company sources its products domestically and distributes them to manufacturers, wholesalers and retailers primarily in Gujarat. Their product range includes precious stones and jewellery & they offer trading services for various precious metals, stones and ornaments. The company has a market cap of Rs 391 crore.

With a vision to diversify and enter new market, the company strategically invested Rs 24 lakh in Fusion Klassroom Edutech Private Limited, an EdTech platform offering a comprehensive solution combining online and offline learning. Additionally, the company has made a strategic investment of Rs 25 lakh in CUR8, a GenAI-powered revenue tech platform, acquiring up to a 100-basis point equity stake. This investment positions Starlineps in the high-growth technology sector and grants access to cutting-edge GenAI capabilities.

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