Are Capacit'e Infra. latest results good or bad?

Capacite Infraprojects has released its financial results for the quarter ending March 2025, which present a mixed overview of the company's performance. The net sales for this quarter reached Rs 671.30 crore, reflecting a year-on-year growth of 12.09%. This marks the highest quarterly figure in the last five quarters, indicating a favorable trend in sales.
However, the company's Profit Before Tax (PBT) has shown a significant decline, decreasing by 40.89% year-on-year to Rs 37.33 crore, which is the lowest level recorded in the same timeframe. Additionally, the operating profit margin has contracted to 12.77%, the lowest in five quarters, suggesting challenges in operational efficiency. The Profit After Tax (PAT) for the last six months stands at Rs 104.55 crore, demonstrating a year-on-year growth of 28.61%, which is a positive aspect amidst the overall performance.

It is also noteworthy that non-operating income constitutes a substantial portion of the PBT, accounting for 47.30%, raising concerns about the sustainability of the company's income sources. Overall, while there are positive indicators in sales and PAT, the decline in key profitability metrics and operational efficiency points to underlying challenges.

In terms of evaluation, the company saw an adjustment in its evaluation over the last three months, reflecting these mixed operational trends.