Reliance Home Finance Reports Mixed Q3 Results
Reliance Home Finance, a microcap company in the finance-housing industry, has recently declared its financial results for the quarter ended September 2023. According to the data released on November 1, 2023, the company has seen a 33.33% growth in net sales compared to the previous quarter, which had a negative growth of 99.84%. However, the standalone net profit has seen a decline of 110.42% in the same period.
The company's operating profit (PBDIT) excluding other income has also seen a decline of 110.86% in the quarter ended September 2023, compared to a decline of 99.93% in the previous quarter. Additionally, the operating profit margin (excluding other income) has also fallen from the previous quarter.
Despite these negative trends, Reliance Home has shown positive financial performance in the quarter ended September 2023, with a score of 7 out of 17. This is a decline from the previous quarter's score of 17, indicating a slight decrease in overall performance.
On a positive note, the company's profit after tax (PAT) for the half-yearly period has grown by 101.81% year on year, reaching Rs 5.50 crore. However, the net sales for the nine-month period have seen a decline of 58.31% year on year, indicating a negative trend in the near term.
In terms of operating profit, Reliance Home has recorded its lowest figure in the last five quarters, at Rs -0.67 crore. This indicates a negative trend in the near term for the company's operating profit.
Overall, the financial results for the quarter ended September 2023 show a mix of positive and negative trends for Reliance Home Finance. Investors and stakeholders should carefully analyze the data and make informed decisions based on the company's performance.
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