NYKAA · Consumer Services
FSN E-Commerce Ventures Ltd. reported revenue of ₹1,668 cr for January to March 2024, — on the year and −6.8% on the quarter.
Operating profit (EBITDA) was ₹93.0 cr, a margin of 5.6%, — on the year and +4 bps on the quarter.
Net profit was ₹9.0 cr, — on the year and −47.1% on the quarter, with earnings per share of ₹0.02.
On earnings per share of ₹0.11 over the last four quarters, the stock at ₹345.00 trades at 3,136.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
Other income was 35% of profit before tax.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,507 cr | ₹1,789 cr | ₹1,668 cr | ₹1,746 cr | ₹1,875 cr | ₹2,267 cr | ₹2,062 cr | ₹2,155 cr | ₹2,346 cr | ₹2,873 cr | ₹2,648 cr | ₹2,782 cr |
| YoY | — | — | — | +23% | +24% | +27% | +24% | +23% | +25% | +27% | +28% | +29% |
| EBITDA margin | 5.4% | 5.5% | 5.6% | 5.5% | 5.5% | 6.2% | 6.5% | 6.5% | 6.8% | 8.0% | 8.4% | 8.5% |
| Other income, % of PBT | 69% | 31% | 35% | 32% | 24% | 13% | 23% | 20% | 13% | −9% | 7% | 7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 30% | 31% | 50% | 36% | 37% | 39% | 52% | 44% | 40% | 38% | 35% | 38% |
| Net profit | ₹8.0 cr | ₹17.0 cr | ₹9.0 cr | ₹14.0 cr | ₹13.0 cr | ₹26.0 cr | ₹19.0 cr | ₹24.0 cr | ₹33.0 cr | ₹68.0 cr | ₹79.0 cr | ₹80.0 cr |
| YoY | — | — | — | +180% | +63% | +53% | +111% | +71% | +154% | +162% | +316% | +233% |
| Core profit YoY | — | — | — | +400% | +300% | +117% | +138% | +133% | +200% | +208% | +265% | +243% |
| EPS | ₹0.02 | ₹0.06 | ₹0.02 | ₹0.03 | ₹0.04 | ₹0.09 | ₹0.07 | ₹0.08 | ₹0.12 | ₹0.22 | ₹0.27 | ₹0.28 |
| Flags | 1 | 1 | 1 | ✓ | ✓ | 1 | 1 | 1 | ✓ | ✓ | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
FSN E-Commerce Ventures Ltd. reported revenue of ₹1,668 cr (— on the year) and net profit of ₹9.0 cr (— on the year) for January to March 2024.
1 check raised a question: Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
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