Omaxe's Q4 Financial Results Show Mixed Performance, Interest Costs and Profits Decline

Omaxe, a smallcap real estate company, recently declared its financial results for the quarter ended March 2024. The company's net sales for the quarter stood at Rs 535.58 crore, showing a growth of 56.6% compared to the average net sales of the previous four quarters. This indicates a positive trend in the company's sales performance.

However, Omaxe's profit before tax less other income (PBT) for the quarter was at Rs -197.97 crore, which is a decrease of 64.6% compared to the average PBT of the previous four quarters. The company's profit after tax (PAT) also saw a decline of 59.8% compared to the average PAT of the previous four quarters.

One of the major factors affecting Omaxe's financial performance is the increase in interest costs. The company's interest expenses for the quarter were at Rs 38.19 crore, which is the highest in the last five quarters and has increased by 17.73% compared to the previous quarter. This signifies an increase in borrowings by the company.

Moreover, Omaxe's operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, standing at Rs -146.32 crore. This indicates a negative trend in the company's operating profit. Similarly, the company's PBT for the quarter was also at its lowest in the last five quarters, showing a negative trend.

The company's earnings per share (EPS) for the quarter were at its lowest in the last five quarters, standing at Rs -7.93. This indicates a decline in profitability and lower earnings for shareholders.

Overall, Omaxe's financial performance for the quarter ended March 2024 has been flat, with some positive and negative trends. Investors should carefully analyze the company's financials before making any investment decisions.