Ashika Credit Capital Reports Mixed Financial Results Amidst Sales Growth in December 2024
Ashika Credit Capital has announced its financial results for the quarter ending December 2024, showcasing a significant increase in net sales to Rs 36.89 crore. However, the company faces challenges with a notable decline in profit before tax, profit after tax, and operating profit, indicating mixed performance across financial metrics.
Ashika Credit Capital has recently reported its financial results for the quarter ending December 2024, revealing a complex picture of performance within the finance/NBFC sector. The company has experienced notable growth in net sales, which reached Rs 36.89 crore, reflecting a year-on-year increase of 48.03%. This figure surpasses the sales recorded in the previous twelve-month period, indicating a positive near-term sales trend.However, the financial results also highlight significant challenges for Ashika Credit. The profit before tax less other income (PBT) has shown a substantial decline, recorded at Rs -25.90 crore, which is markedly lower than the average PBT of the previous four quarters. Similarly, the profit after tax (PAT) stands at Rs -20.29 crore, also reflecting a considerable drop compared to prior periods. The operating profit has reached its lowest point in the last five quarters at Rs -22.81 crore, indicating a negative trend in operational efficiency. Additionally, earnings per share (EPS) have fallen to Rs -8.05, suggesting a decline in profitability for shareholders.
In light of these results, Ashika Credit has undergone an adjustment in its evaluation, reflecting the mixed performance across various financial metrics.
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