Are Marathon Nextgen latest results good or bad?

Marathon Nextgen Realty has reported its financial results for the quarter ending June 2025, which reveal a mix of trends. The company's Profit After Tax (PAT) reached Rs 59.88 crore, reflecting a notable growth compared to the average PAT of Rs 46.64 crore over the previous four quarters, marking the highest PAT recorded in the last five quarters. This suggests a positive near-term trend in profitability.
However, the company encountered challenges as its Profit Before Tax less Other Income (PBT) fell to Rs 18.34 crore, which is a decline from the previous four-quarter average and represents the lowest figure in the last five quarters. This indicates a negative near-term trend in operational performance. Additionally, net sales for the nine-month period totaled Rs 412.74 crore, showing a year-on-year decrease.

The operating profit margin also saw a decline, dropping to 21.95%, the lowest in five quarters. Furthermore, a significant portion of the PBT, at 73.20%, was derived from non-operating income, raising concerns about the sustainability of the company's income sources.

In light of these results, Marathon Nextgen experienced an adjustment in its evaluation, reflecting the complexities in its financial performance. Overall, while there are positive indicators in PAT, the declines in PBT and operating metrics highlight areas of concern that the company may need to address moving forward.