How has been the historical performance of Photon Capital?

Answer:The historical performance of Photon Capital has shown significant fluctuations over the years, particularly in its revenue and profitability metrics. Breakdown: Photon Capital's net sales have seen a gradual increase from INR 0.09 crore in March 2019 to INR 0.36 crore in March 2022, followed by a decline to INR 0.24 crore in March 2025. The total operating income mirrored this trend, peaking at INR 0.36 crore in March 2022 before dropping to INR 0.24 crore in March 2025. The company's total expenditure, excluding depreciation, has fluctuated, reaching a high of INR 0.93 crore in March 2019 and decreasing to INR 0.48 crore in March 2025. Operating profit (PBDIT) has been negative in recent years, with a notable profit of INR 1.95 crore in March 2022, but falling to -0.24 crore in March 2025. The profit before tax also reflected this decline, moving from a profit of INR 1.96 crore in March 2022 to a loss of -0.26 crore in March 2025. Consequently, the profit after tax showed a similar pattern, with a profit of INR 1.94 crore in March 2022 turning into a loss of -0.51 crore by March 2025. The company's total assets decreased from INR 6.96 crore in March 2022 to INR 6.44 crore in March 2025, while total liabilities also fell from INR 6.96 crore to INR 6.44 crore during the same period. Cash and cash equivalents have fluctuated significantly, with a peak of INR 4.53 crore in March 2022, but dropping to INR 0.00 crore by March 2025. Overall, Photon Capital's financial performance has been marked by volatility, particularly in profitability and cash flow, with a notable decline in recent years.