Urban Enviro Waste Management's Triple Profit Boost for FY24

Urban Enviro Waste Management posted a threefold increase in net profit for FY24, reaching Rs 7.05 crore, primarily due to higher revenues. The company's revenue surged to Rs 102.47 crore, and EPS rose by 157.57%. Chairman Kamlesh Sharma emphasized their focus on innovation, sustainability, and community engagement.

Waste management solution provider Urban Enviro Waste Management on Tuesday posted a threefold jump in its net profit for 2023-24 compared to the year-ago period mainly due to higher revenues.

The company reported a net profit of Rs 7.05 crore for FY24 against Rs 2.15 crore in 2022-23, a company statement said.

Its revenue jumped to Rs 102.47 crore in 2023-24 from Rs 39.15 crore in 2022-23.

For the full year, the EPS (earning per share) rose to Rs 16.29, a 157.57 per cent increase from Rs 6.33 the last fiscal year.

Kamlesh Sharma, Chairman and Managing Director of Urban said in the statement, ''We are pleased with our robust financial performance. Our commitment to innovation, sustainability, and community engagement has driven our growth and positioned us as leaders in the solid waste management sector.'' Looking ahead, Sharma stated that the company will continue to focus on expanding its services, enhancing operational efficiencies, and driving sustainable practices to create long-term value for stakeholders.

Urban Enviro Waste Management provides waste management solutions & municipal solid waste (MSW) management services comprising waste collection, transportation, segregation & disposal services across the country.