Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 117

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 117
---
 the increase was mainly attributable to the increase in interest rate. Interest
income increased by $5,979, or 182.2%, from $3,282 for the year ended March 31, 2023 to $9,261 for the year ended March 31,
2024, and such increase was in line with the increase in interest rate and increase in bank balance.

Other
miscellaneous income

Other miscellaneous income mainly was the refund
of medical and severance payment from insurance companies during the years ended March 31, 2025 and 2023, respectively. No such miscellaneous
income was received during the year ended March 31, 2024.

Income
tax expense

We
and our subsidiaries are subject to income tax on an entity basis on profit arising in or derived from the jurisdiction in which the
Company and its subsidiaries are domiciled or operate. Income tax expense is comprised mainly of Hong Kong income tax.

The income tax expense decreased by approximately
$39,892, or 11.9%, from $334,071 for the year ended March 31, 2024 to $294,179 for the year ended March 31, 2025. The decrease was mainly
due to the decrease in net income before provision for income taxes. The effective tax rate remained relatively stable at 15.7% for the
year ended March 31, 2024 and 15.4% for the year ended March 31, 2025, respectively.

The
income tax expense increased by approximately $0.1 million, or 50.0%, from $0.2 million for the year ended March 31, 2023
to $0.3 million for the year ended March 31, 2024. The increase was mainly due to the increase in net income before provision
for income taxes. The effective tax rate remained relatively stable at 14.8% for the year ended March 31, 2023 and 15.7% for the
year ended March 31, 2024, respectively.

Net
income

We recorded net income of $1.6 million for the
year ended March 31, 2025, compared to $1.8 million for the year ended March 31, 2024. Such decrease was attributable to the decrease
in revenue, partially offset by the decrease in cost of revenue.

We
recorded net income of $1.8 million for the year ended March 31