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GTPL Hathway falls 3% lower on 62% fall in net profit for Q2FY25
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2 min read | Updated on October 10, 2024, 17:11 IST
SUMMARY
The company reported a poor set of numbers for Q2FY25 as the consolidated net profit of the company dropped nearly 62% YoY to ₹13.7 crore. Sluggish operating numbers largely led a significant drop in the net profit as key channel pay costs jumped nearly 28% YoY, which dented EBITDA margins for the quarter by 200 bps.
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GTPL Hathway falls 3% lower on poor Q2FY25 results
The company reported a 42.53% fall in its net profit to ₹13.97 crore for the quarter ended September 30, 2024, compared to ₹24.31 crore for the same quarter in the previous year. However, the company's total income increased by 6.48% to ₹545.21 crore for Q2FY25, compared to ₹512.05 crore for the corresponding quarter last year.
On a consolidated basis, the company reported a 61.70% fall in net profit to ₹13.74 crore for Q2FY25, compared to ₹35.87 crore for the same quarter in the previous year. However, the company's total income increased by 9.12% to ₹862.04 crore for Q2FY25, compared to ₹789.97 crore for the corresponding quarter in the previous year.
On an operational basis, the company reported a weak set of numbers, which led to a sharp fall in bottom-line numbers on a YoY basis. The company’s EBITDA for the quarter stood at ₹1,031 crore, compared to ₹1,204 crore in Q2FY24, which is 14% lower than the previous year. The EBITDA margins, too, contracted by 200 bps to 22%, compared to 24% in Q2FY24.
The pay channel cost and employee management costs jumped 28% and 10% YoY, respectively, which made a dent in operating margins for the company in the current quarter.
Following the poor results, GTPL Hathway fell nearly 3.5% lower on Thursday, later pared early losses to close 0.6% lower at ₹164 apiece on the NSE.
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