Eden Innovations Ltd (AU:EDE) has released an update.
Eden Innovations Ltd reports a significant 57% decline in operating revenue to A$2.0 million for FY24, attributed to market instability and impending regulations in India affecting their OptiBlend product. Despite this downturn, the company managed to narrow its loss to shareholders to A$2.6 million, down from A$17.9 million the previous year, thanks to cost savings and property value adjustments. Eden Innovations continues to seek property sales to alleviate debt and improve working capital.
For further insights into AU:EDE stock, check out TipRanks’ Stock Analysis page.
