Profit before tax (PBT) declined 74.13% to Rs 39.74 crore during the fourth quarter.

Total expenses jumped 74.45% to Rs 1,367.30 crore in the fourth quarter. Cost of material consumed was at Rs 1,125.95 crore (up 72.06% YoY), employee benefits expenses stood at Rs 11.33 crore (up 3.94% YoY) and finance cost stood at Rs 57.53 crore (down 13.97% YoY) during the period under review.

Revenue from textile segment dropped 16.56% to Rs 53.49 crore and revenue from energy segment tumbled 67.50% YoY to Rs 64.61 crore in Q4 FY24 over Q4 FY23 while revenue from construction business surged to Rs 185.25 crore in Q4 FY24 from Rs 11.23 crore posted in Q4 FY23.

On a full year basis, the company reported a consolidated net profit of Rs 585.96 crore as against a net loss of Rs 61.04 crore in Q4 FY24 over Q4 FY23. Revenue from operations stood at Rs 5,017.14 crore, steeply higher than Rs 1,438.14 crore posted in the corresponding period last year.

Meanwhile, the board has declared a dividend of Re 1 per share for the financial year ended 2024.

Chetan Selarka, chief financial officer (CFO), Swan Energy, said, “FY24 has been a year of developing a robust foundation of growth across all business verticals. Following a successful fund raising through QIP, we have made substantial progress in debt reduction in the company including subsidiaries. We have formally taken the management control of RNEL from NCLT and the issuances of shares are in process. We have initiated the process of revamping of the RNEL shipyard infrastructure facilities to make it operational as well as building a proficient leadership team. These measures, aimed at fortifying our organisational strength, are in line with our mission to strengthen the shipyard manufacturing capacity to take India amongst the top five countries in heavy fabrication, ship building and ship repairing across the commercial and in naval sectors.

Veritas (India) business has been fully integrated into our results. The real estate segment is displaying growth momentum, as it has recently obtained an occupation certificate for a premium residential project in Bengaluru.

Additionally, we are also aggressively working on completion of LNG terminal project.”

Swan Group is among India's leading private sector business houses serving the nation for more than a century across textile, real estate and oil & gas sectors.