Automobile Corporation of Goa Reports Substantial Decline in Q3 FY24-25 Financial Results

Automobile Corporation of Goa Sees Sharp Declines in Q3 FY24-25 Financial Performance

Automobile Corporation of Goa has reported a substantial downturn in its financial results for Q3 FY24-25, with notable decreases in net sales, profit before tax (PBT), profit after tax (PAT), and earnings per share (EPS) compared to previous periods. The company’s performance highlights operational challenges and a significant reliance on non-operating income to sustain profitability.

The company posted net sales of Rs 110.71 crore for the quarter, a significant drop from the average of Rs 160.62 crore reported in the previous four quarters. This marks the lowest sales figure in the last five quarters for the company.

In terms of profitability, PBT for the quarter was recorded at Rs 2.87 crore, down sharply from the average PBT of Rs 11.38 crore in recent quarters. Similarly, PAT decreased to Rs 4.51 crore, the lowest in the past five quarters, reflecting the difficulties the company is facing in its core operations.

The operating profit stood at Rs 4.09 crore, with an operating profit margin of just 3.69%. This suggests challenges in managing operational costs efficiently. Additionally, a significant portion of the company’s profit, specifically 52.72%, came from non-operating income, which raises concerns about the sustainability of its core business performance. The EPS also dropped to Rs 7.41, signaling a negative shift in profitability for shareholders.

These figures have led to revised evaluations of the company’s stock performance, reflecting the financial challenges faced by Automobile Corporation of Goa.