Are Vikas Ecotech latest results good or bad?

Vikas Ecotech has reported its financial results for the quarter ending March 2025, which reveal several noteworthy trends. The company achieved its highest quarterly net sales in the last five quarters, totaling Rs 102.61 crore, reflecting a quarter-on-quarter growth of 21.06%. This indicates a positive trajectory in sales performance compared to the previous quarter, where sales experienced a decline.
In terms of profitability, the Profit After Tax (PAT) for the nine-month period reached Rs 6.60 crore, marking a year-on-year growth of 24.53%. The consolidated net profit for the quarter also saw a significant quarter-on-quarter increase of 881.82%, contrasting sharply with a negative performance in the previous quarter.

However, it is important to note that a substantial portion of the company's income, specifically 85.54% of Profit Before Tax (PBT), is derived from non-operating activities. This reliance on non-business income raises questions about the sustainability of Vikas Ecotech's operational model.

Additionally, the company experienced an adjustment in its evaluation over the past three months. Overall, while the financial results indicate positive trends in sales and profitability, the reliance on non-operating income presents challenges that may impact future performance.