Are Protean eGov latest results good or bad?

Protean eGov Technologies has reported its financial results for the quarter ending March 2025, revealing a mixed operational performance. The company achieved its highest quarterly net sales in the last five quarters, totaling Rs 222.15 crore, which indicates a positive trend in sales. However, profitability has faced challenges, with Profit Before Tax (PBT) declining significantly by 33.2% compared to the average PBT of the previous four quarters, standing at Rs 8.70 crore. Additionally, Profit After Tax (PAT) also decreased by 10.7% to Rs 20.40 crore against the prior average.
A noteworthy aspect of the results is that a substantial portion of the PBT, specifically 65.53%, was derived from non-operating activities, which raises questions about the sustainability of the company's core business operations.

The company saw an adjustment in its evaluation over the past three months. In terms of quarterly metrics, net sales showed a growth of 9.81% compared to the previous quarter, while the consolidated net profit experienced a decline of 11.03%. Operating profit margin, excluding other income, remained relatively stable, reflecting a slight change. Overall, the results indicate a complex financial landscape for Protean eGov Technologies, with strong sales performance contrasted by profitability challenges.