{"id":35469,"date":"2024-02-15T09:25:47","date_gmt":"2024-02-15T03:55:47","guid":{"rendered":"https:\/\/businesspoint.co.in\/index.php\/2024\/02\/15\/eco-recycling-limited-achieves-extraordinary-financial-growth-consolidated-net-profit-surges-by-293-in-9m-fy24\/"},"modified":"2024-02-15T09:25:47","modified_gmt":"2024-02-15T03:55:47","slug":"eco-recycling-limited-achieves-extraordinary-financial-growth-consolidated-net-profit-surges-by-293-in-9m-fy24","status":"publish","type":"post","link":"https:\/\/businesspoint.co.in\/index.php\/2024\/02\/15\/eco-recycling-limited-achieves-extraordinary-financial-growth-consolidated-net-profit-surges-by-293-in-9m-fy24\/","title":{"rendered":"Eco Recycling Limited Achieves Extraordinary Financial Growth: Consolidated Net Profit Surges by 293% in 9M FY24"},"content":{"rendered":"
\n

Mumbai (Maharashtra) [India], February 15:<\/strong> Eco Recycling\u00a0Limited (BSE: 530643,\u00a0ECORECO),\u00a0India\u2019s first and leading professional E-waste Management Company\u00a0today announced its\u00a0unaudited financial results for the\u00a0Nine Months & Quarter\u00a0ended 31stDecember\u00a02023 (9M &\u00a0Q3\u00a0FY24).<\/p>\n

Consolidated\u00a0Q3 FY24\u00a0Key Financials at a Glance:<\/strong><\/p>\n

\u2022\u00a0Total Income of\u00a0\u20b9\u00a09.60 Cr, YoY growth of 58.42 %<\/p>\n

\u2022\u00a0EBITDA of\u00a0\u20b9\u00a07.37 Cr, YoY growth of 79.76 %<\/p>\n

\u2022\u00a0EBITDA Margin of 76.77 %, YoY growth of 911 Bps<\/p>\n

\u2022\u00a0Net Profit of\u00a0\u20b9\u00a05.99 Cr, YoY growth of 65.01 %<\/p>\n

\u2022\u00a0Net Profit Margin of 62.40 %, YoY growth of 249 Bps<\/p>\n

\u2022\u00a0EPS of\u00a0\u20b9\u00a02.97, YoY growth of 50.00 %<\/p>\n

Consolidated\u00a09M\u00a0FY24\u00a0Key Financials at a Glance:<\/p>\n

\u2022\u00a0Total Income of\u00a0\u20b9\u00a027.61 Cr, YoY growth of 64.74 %<\/p>\n

\u2022\u00a0EBITDA of\u00a0\u20b9\u00a020.41 Cr, YoY growth of 87.76 %<\/p>\n

\u2022\u00a0EBITDA Margin of 73.92 %, YoY growth of 907 Bps<\/p>\n

\u2022\u00a0Net Profit of\u00a0\u20b9\u00a019.33 Cr, YoY growth of 292.89 %<\/p>\n

\u2022\u00a0Net Profit Margin of 59.98 %, YoY growth of 31 Bps<\/p>\n

\u2022\u00a0EPS of\u00a0\u20b9\u00a08.58, YoY growth of 65.64 %<\/p>\n

Commenting on the performance, Mr. B K Soni \u2013\u00a0Managing Director\u00a0of\u00a0Eco Recycling Limited said,\u00a0\u201cOur\u00a0Company\u2019soutstanding performance in the quarter, marked by substantial increases in total Income\u00a0and net profit, reflects our commitment to excellence.\u00a0Net profit\u00a0surged by\u00a0293% for the nine months of FY24 compared to the same period in FY23, demonstrating significant growth.\u00a0<\/p>\n

Our focus on high-value e-waste services, coupled with contributions from global business, has been pivotal in driving this success. We are poised for continued growth, particularly with additional revenue expected from EPR Business. Our proactive support for major global brands in meeting their EPR obligations underscores our leadership in the e-waste recycling industry. This success is attributed to government support and effective implementation of EPR rules, aligning with our commitment to eco-friendly practices and sustainability. Our investment in technology further strengthens our capabilities, ensuring our position as a frontrunner in e-waste management.\u201d<\/p>\n

\n\n\n\n\n\n
Highlights for Q3 FY24 (October 2023 \u2013 December 2023)<\/td>\n<\/tr>\n
\u00a0 Inauguration of \u2018Recycling on Wheels Smart-ER\u2019 Initiative\u00a0on 3rd\u00a0October\u00a02023<\/td>\nEcoreco\u2019s \u201cRecycling on Wheels Smart-ER,\u201d inaugurated by Union Minister Dr. Jitendra Singh, formalizes the e-waste sector with\u00a0\u20b96.00 crore funding from the Technology Development Board. Prioritizing eco-friendly methods and worker safety, it aligns with Extended Producer Responsibility, Circular Economy, and supports Swachhata Hi Seva and Prime Minister Modi\u2019s cleaner India vision, addressing the need for proper e-waste disposal awareness.<\/td>\n<\/tr>\n
Capacity Expansion<\/td>\nNew Capacity of 18,000 MTPA added during February 2024<\/td>\n<\/tr>\n<\/tbody>\n<\/table>
Highlights for Q3 FY24<\/figcaption><\/figure>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], February 15: Eco Recycling\u00a0Limited (BSE: 530643,\u00a0ECORECO),\u00a0India\u2019s first […]<\/p>\n","protected":false},"author":1,"featured_media":35470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[2],"class_list":["post-35469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/posts\/35469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=35469"}],"version-history":[{"count":0,"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/posts\/35469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/media\/35470"}],"wp:attachment":[{"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=35469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=35469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesspoint.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=35469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}