Prime Securities Reports Strong Q3 FY24-25 Growth Amid Liquidity Concerns
Prime Securities has announced its third-quarter financial results for FY24-25, reporting a profit after tax of Rs 25.40 crore, reflecting significant year-on-year growth. The company also noted net sales of Rs 51.01 crore for the half-year, while facing challenges indicated by a decline in its evaluation score and low cash reserves.
Prime Securities, a microcap company in the finance and non-banking financial company (NBFC) sector, has released its financial results for the third quarter of FY24-25, showcasing a profit after tax (PAT) of Rs 25.40 crore, which indicates a notable year-on-year growth of 113.80%. Additionally, the company reported net sales for the half-year at Rs 51.01 crore, reflecting a 53.14% increase compared to the previous year.However, the overall evaluation of Prime Securities has undergone an adjustment, with its score changing to 16 from 34 over the past three months, suggesting the presence of certain challenges. A significant point of concern is the reported cash and cash equivalents, which have reached their lowest level in the last six half-year periods at Rs 37.42 crore, indicating potential issues with short-term liquidity.
As Prime Securities continues to navigate these financial dynamics, stakeholders will be closely observing its liquidity position and overall market performance.
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