Veritas (India) Reports Mixed Financial Results with Strong Sales but Declining Profitability in December 2024
Veritas (India), a smallcap player in the trading industry, has recently reported its financial results for the quarter ending December 2024. The results indicate a mixed performance, with notable developments in both sales and profitability metrics.On the positive side, Veritas (India) achieved net sales of Rs 1,642.46 crore, reflecting a significant growth compared to the average net sales of the previous four quarters. This figure marks the highest sales recorded in the last five quarters, suggesting a favorable near-term sales trend. Additionally, the company reported its highest cash and cash equivalents at Rs 52.79 crore over the last six half-yearly periods, indicating an improvement in short-term liquidity.
Conversely, the financial results also highlight challenges for Veritas (India). The profit after tax (PAT) for the quarter stood at Rs 29.93 crore, which represents a decline compared to the average PAT of the previous four quarters. Similarly, profit before tax less other income (PBT) also showed a decrease, indicating a negative trend in profitability. Furthermore, rising interest costs, now at Rs 27.21 crore, suggest increased borrowings.
In light of these developments, Veritas (India) has experienced adjustments in its evaluation.
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