India Shelter Finance Corporation Reports Strong Financial Performance in Q1 2024.
India Shelter Finance Corporation, a midcap company in the finance-housing industry, has recently declared its financial results for the quarter ending March 2024. According to the data released on May 8, 2024, the company's net sales for the quarter were at an all-time high of Rs 234.76 crore, showing a consistent growth trend in the last five quarters. This positive trend is expected to continue in the near term.
The company's operating profit (PBDIT) for the quarter was also at its highest at Rs 167.80 crore, with a growth trend in the last five quarters. This indicates a positive outlook for the company's operational efficiency in the near future.
Moreover, India Shelter Finance Corporation's profit after tax (PAT) for the quarter was at Rs 77.93 crore, showing a significant growth of 40.0% over the average PAT of the previous four quarters. This is a strong indicator of the company's financial stability and growth potential.
The company's net sales for the quarter also showed a positive trend, growing at 22.8% over the average net sales of the previous four quarters. This further strengthens the company's position in the market.
India Shelter Finance Corporation's operating profit margin for the quarter was at its highest at 71.48%, indicating an improvement in the company's efficiency. Additionally, the profit before tax less other income (PBT) for the quarter was at its highest at Rs 90.01 crore, with a growth trend in the last five quarters.
However, the company's non-operating income for the quarter was at its highest at Rs 9.66 crore, which may not be sustainable in the long run. It is important for the company to focus on its core business activities to maintain its growth trajectory.
In conclusion, India Shelter Finance Corporation has shown strong financial performance in the quarter ending March 2024, with positive trends in key areas such as net sales, operating profit, and PAT. This reflects the company's potential for growth and stability in the near future.
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