10 September, 2024
Blue Power Group Limited (BPOW)
Unaudited financials for the three months ended July 31, 2024:
Blue Power Group Limited (BPOW), for the three months ended July 31, 2024, reported an 8% increase in revenue totaling $233.88 million compared to $216.33 million in the corresponding period last year.
Cost Of Sales amounted to $138.40 million (2023: $143.62 million); this represents a commendable decrease of 4% year over year. This efficient cost management strategy has led to a 31% increase in gross profit, which now stands at $95.48 million compared to $72.71 million for the three months ended July 31, 2023.
Impairment gains on investment increased by 157% to close at $79,062 (2023: $30,799), while Administrative And Other Expenses increased by 8% from $48.58 million in 2023 to $52.32 million in the period under review. This resulted in a significant 66% increase in Profit from operations for the three months ended July 31, 2024, which amounted to $42.73 million, relative to $25.80 million reported in 2023. This robust performance is a testament to the company’s resilience and growth potential.
Finance income totaled $8.17 million, a 17% decrease from last year’s period. (2023: $9.89 million). Finance costs for the three months ended July 31, 2024, amounted to $1.24 million, an 11% increase relative to the $1.12 million reported in 2023. This increase is primarily due to increased borrowing.
Profit before Taxation for the three months ended July 31, 2024, increased 25% to reach $60.02 million (2023: $48.15 million). Taxation for the three months amounted to $11.49 million, a 13% increase from the $10.15 million reported in 2023.
Net Profit increased by 28% to $48.54 million (2023: $38.00 million). Consequently, Earnings Per Share for the three months amounted to $0.09 (2023: EPS: $0.07). The twelve-month trailing EPS was $0.33, and the number of shares used in these calculations was 564,990,000.
Notably, BPOW’s stock price closed the trading period on September 06, 2024, at a price of $4.00 with a corresponding P/E ratio of 12.30x.
Balance Sheet Highlights
The company’s assets totaled $1.80 billion (2023: $1.63 billion). The total increase in the company asset base is attributed to a 92% YoY increase in “Cash and cash equivalents,” ending the quarter at $332.62 million, and a 69% YoY increase in “Inventories,” ending the quarter at $154.43 million.
Shareholder’s equity was $1.70 billion (2023: $1.54 billion), representing a book value per share of $3.01 (2023: $2.72).
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