Innovative Energy Group Limited (ENERGY )

Unaudited financials for the six months ended November 30, 2024:

Innovative Energy Group Limited  (ENERGY ) for the six months ended November 30, 2024, reported Revenue totaling $39.73 million. Revenue for the second quarter closed at $39.73 million.

Cost of Sales amounted to $8.17 million. Consequently, gross profit amounted to $31.56 million. The company booked gross profit of $31.56 million for the second quarter.

Other Income closed at $994,000. As such, Total Income totalled $32.55 million for the six months ended November 30, 2024.

Operating expenses amounted to $18.85 million. As a result, Operating Profit for the six months ended November 30, 2024, amounted to $13.71 million. Operating Profit for the second quarter totalled to $15.32 million.

Finance Costs totalled $1.42 million. As such, profit before taxation amounted to $12.29 million.

No taxes were reported during the period under review. As such, Net Profit for the six months amounted to $12.28 million. For the second quarter, Net Profit was $13.90 million.

Management highlighted, “During this quarter, the Group, comprising IEG (the company) and its subsidiary (IECL) – recorded a profit of $12.3 million, compared to a loss of $3.8 million for IEG (the company) in the corresponding quarter of 2023. Given the completion of the IECL acquisition transaction on November 1, 2024, this quarter’s consolidated results reflect one month of the subsidiary’s performance. Revenues and profits reported for this quarter are mainly from the subsidiary’s renewables operations during the month of November.”

Consequently, Earnings Per Share for the six months amounted to $0.022, while Earnings Per Share for the quarter totaled $0.025 (2023: EPS: $0.03). The twelve-month trailing EPS was $0.02 and the number of shares used in these calculations was 546,000,000.

Notably, ENERGY ‘s stock price closed the trading period on February 03, 2025, at a price of $1.26 with a corresponding P/E ratio of 56.00x.

Balance Sheet Highlights

The company’s assets totalled $3.27 billion. Energy noted, “Intangibles of $ 2.3 billion shown on the November 30th statement of financial position represent goodwill on consolidation. This value will be reassessed periodically, with review and confirmation by external auditors at the end of each financial year.”

Shareholder’s deficit amounted to $7.88 million, representing a book deficit per share of $0.01.

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