Swan (503310) Q1 24/25 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, were approved and adopted, with a limited review by statutory auditors confirming no material misstatements.

• Board approved several director appointments and reappointments, including new independent directors and CFO.

• Approved sale of Triumph Offshore Private Limited, a material subsidiary, for USD 399 million, subject to shareholder and regulatory approvals.

• Amendments to the Memorandum of Association were approved to expand into technology and IT-related services.

Financial highlights

• Consolidated revenue for Q1 FY25 was ₹139,790.54 lakh, up from ₹80,429.78 lakh in Q1 FY24.

• Consolidated net profit after tax for Q1 FY25 was ₹26,767.32 lakh, compared to ₹5,090.13 lakh in Q1 FY24.

• Standalone revenue for Q1 FY25 was ₹3,945.73 lakh, with net profit after tax at ₹324.75 lakh.

• Earnings per share (EPS) for Q1 FY25 (consolidated) was ₹8.57, up from ₹2.19 in Q1 FY24.

Outlook and guidance

• Sale of Triumph Offshore Private Limited expected to be completed within six months, with proceeds to be received in multiple tranches.