IDFC's Q4 2024 financial results show mixed performance, with significant growth in PBT but decline in sales and PAT.
IDFC, a midcap finance and non-banking financial company (NBFC), recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financials, IDFC has seen a negative performance in the quarter, with a score of -13 compared to -10 in the previous quarter. However, there are some positive aspects to the company's performance. The Profit Before Tax less Other Income (PBT) has shown a significant growth of 155.8% at Rs 350.66 crore, compared to the average PBT of the previous four quarters at Rs -628.37 crore. This indicates a very positive trend in the near term for PBT.
Additionally, the PBT for the quarter is the highest in the last five quarters, further highlighting the positive trend. On the other hand, the Net Sales for the quarter have fallen by -66.3% at Rs 9.77 crore, compared to the average Net Sales of the previous four quarters at Rs 29.01 crore. This shows a very negative trend in the near term for sales.
Similarly, the Profit After Tax (PAT) for the quarter has also fallen by -65.9% at Rs 347.85 crore, compared to the average PAT of the previous four quarters at Rs 1,021.28 crore. This indicates a very negative trend in the near term for PAT. Overall, IDFC's financial performance for the quarter ending March 2024 has been a mix of positive and negative trends.
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