Are SMC Global Sec. latest results good or bad?

SMC Global Securities has reported its financial results for the quarter ending March 2025, which reflect significant declines across several key performance metrics. The Profit Before Tax (PBT) has fallen to Rs 2.23 crore, a notable reduction compared to the average PBT of Rs 65.88 crore over the previous four quarters. Similarly, the Profit After Tax (PAT) has decreased to Rs 3.73 crore, down from an average of Rs 51.99 crore during the same timeframe.
The operating profit has also declined to Rs 62.99 crore, continuing a downward trend observed over the last five quarters. Net sales have dropped to Rs 421.47 crore, which is a 9.5% decline from the average of Rs 465.93 crore in the previous four quarters. The operating profit margin has decreased to 14.95%, indicating a reduction in the company's operational efficiency.

Additionally, a significant portion of the PBT, approximately 63.68%, has come from non-operating income, raising concerns regarding the sustainability of the company's core business model. Earnings per share have also decreased to Rs 0.36, reflecting a decline in profitability for shareholders.

Furthermore, the company has experienced a revision in its evaluation, which aligns with the observed declines in net sales and consolidated net profit, both of which have shown substantial reductions compared to the previous quarter. Overall, the financial data indicates a challenging period for SMC Global Securities, with several key metrics reflecting a downward trajectory.