Poonawalla Fincorp Reports Mixed Q3 Results Amid Declining Profits and Rising Debt
Poonawalla Fincorp's financial results for the quarter ending December 2024 reveal a record net sales figure of Rs 1,057.03 crore, while profit before tax and profit after tax have significantly decreased compared to previous quarters. The company also faces challenges with reduced cash equivalents and an increased debt-equity ratio.
Poonawalla Fincorp has recently released its financial results for the quarter ending December 2024, showcasing a mix of trends within its operations. The company reported net sales of Rs 1,057.03 crore, marking the highest quarterly figure in the last five quarters, indicating a positive trajectory in sales performance. However, the profit before tax (PBT) for the quarter stood at Rs 25.04 crore, reflecting a significant decline compared to the average PBT of Rs 114.41 crore from the previous four quarters. Similarly, the profit after tax (PAT) was recorded at Rs 18.73 crore, which also shows a considerable decrease from the average PAT of Rs 104.36 crore over the same period.Additionally, Poonawalla Fincorp's cash and cash equivalents reached their lowest point in the last six half-yearly periods at Rs 137.93 crore, suggesting challenges in short-term liquidity. The debt-equity ratio has also risen to 2.27 times, the highest in the last five half-yearly periods, indicating an increase in borrowing to support operations. These evaluation changes reflect a complex financial landscape for Poonawalla Fincorp.
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