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Profit Soars Despite Revenue Dip: A Q3 Paradox
28 Jan
Summary
- Net profit surged 30.6% to ₹242.9 crore in Q3 FY24.
- Revenue and EBITDA declined, showing operational pressures.
- The company exhibited a sequential profit recovery in Q3.
Maharashtra Seamless achieved a consolidated net profit of ₹242.9 crore in the December quarter of FY24, marking a 30.6% increase from the previous year. This notable profit growth contrasts with a substantial year-on-year decline in revenue, which fell by 22.6% to ₹1,090 crore.
Furthermore, the company experienced a sharp 45.5% year-on-year decrease in EBITDA, settling at ₹152.8 crore, with EBITDA margins contracting to 14%. This performance follows a weaker September quarter where net profit had also declined significantly.
Despite the year-on-year contractions in revenue and operating metrics, the sequential improvement in profit during the December quarter suggests a partial recovery. The company's shares closed at ₹519 on the NSE, reflecting ongoing market volatility.
