360 ONE WAM Announces Mixed Q3 Results
360 ONE WAM, a leading finance and NBFC company, has reported a decline in net sales and operating profit, but a growth in consolidated net profit for the quarter ended September 2023. The company's PAT and EPS have increased, but there are concerns about PBT and operating cash flow. Investors are advised to hold their stocks and monitor future financials closely.
360 ONE WAM, a leading finance and NBFC company, recently announced its financial results for the quarter ended September 2023. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the quarterly analysis, there has been a decline in net sales by -3.21% compared to the previous quarter, while the consolidated net profit has seen a growth of 1.23%. The operating profit (PBDIT) excluding other income has also decreased by -10.01%, and interest has increased by 12.24%. The operating profit margin (excluding other income) has also fallen from the previous quarter.
Despite the flat financial performance, there are some positive aspects for 360 ONE based on the September 2023 financials. The company has recorded the highest profit after tax (PAT) in the last five quarters at Rs 186.02 crore, and the earnings per share (EPS) have also increased. However, there are some concerns as well, such as a decrease in profit before tax (PBT) and a negative trend in operating cash flow.
The company's PBT has fallen by -16.2% compared to the average of the previous four quarters, and the operating cash flow has been the lowest in the last three years. Additionally, there has been an increase in non-operating income, which may not be sustainable.
Overall, 360 ONE WAM has shown a mixed performance in the September 2023 quarter. Investors are advised to hold their stocks and closely monitor the company's financials in the upcoming quarters.
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