Religare Enterprises Reports Mixed Performance in Q2 FY24-25, PAT and Net Sales Show Growth

Religare Enterprises, a midcap finance and non-banking financial company (NBFC), recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financials, Religare Enterprises has shown a flat performance in the second quarter of the fiscal year 2024-25. However, there has been an improvement in the company's score from -2 to 5 in the last three months.

The company's Profit After Tax (PAT) for the quarter has seen a significant growth of 102.3% year on year, standing at Rs 51.21 crore. The near-term trend for PAT is also positive. Similarly, the Net Sales for the quarter have reached its highest at Rs 1,951.86 crore in the last five quarters, with a positive trend in the near term. The YoY growth for Net Sales is 23.19%.

On the other hand, the Profit Before Tax less Other Income (PBT) for the quarter has fallen by -16.37% year on year, standing at Rs 48.32 crore. The near-term trend for PBT is very negative.

Overall, Religare Enterprises has shown a mixed performance in the second quarter of FY24-25. While there has been a positive growth in PAT and Net Sales, the PBT has seen a decline. Investors are advised to hold their position in the company's stock, as suggested by MarketsMOJO.