Prithvi Exchange (India) Ltd Q3 FY25 Results
PRITHVIEXCHQ3 FY25 ResultsAnnounced 14 Feb 2025, 06:45 pm| Metric | Value (₹ Cr) | vs Q2 FY25 |
|---|---|---|
| Revenue | 716.40 | 27.6% |
| Total Income | 716.66 | 27.6% |
| Expenditure | 715.75 | 27.4% |
| PBT | 0.91 | 76.4% |
| Net Profit | 0.69 | 76.6% |
| OPM | 0.05% | 0.28pp |
| NPM | 0.10% | 0.20pp |
| EPS | 1.20 | 66.7% |
Prithvi Exchange Reports 36.78% Decrease in Q3 FY2024-2025 Revenue
15 Feb 2025 · 15 Feb 2025, 10:13 pm
Summary
Prithvi Exchange (India) Limited, a well-known brand in the field of Foreign Exchange, announced its Q3 FY2024-2025 results with a 36.78% decrease in revenue compared to the previous year quarter. The decline is due to a 75% year-over-year drop in the bank notes business and geopolitical issues affecting the remittances business in the North American market. Despite these challenges, the company launched two new branches and was categorized under Fortune 500 by the Fortune India Magazine.
Key Highlights
- 1
Revenue decreased by 36.78% for the Q3 ended 31st December, 2024 as compared to the previous year quarter ended 31st December 2023
- 2
Bank notes business dropped by 75% Y-o-Y, leading to a massive decline in performance
- 3
Fall in remittances business due to geopolitical issues in North American market
- 4
Company launched two new branches in Salt Lake (West Bengal) and Amritsar
- 5
Company categorized under Fortune 500 by the Fortune India Magazine during the quarter
Management Comments
Mr Pavan kumar kavad
Managing Director
The revenue has decreased 36.78% for the Q3 ended 31st December, 2024 as compared to the previous year quarter ended 31st December 2023. The steep fall in profits is predominantly due to two major reasons: i) Bank notes business which contributes significantly to topline and bottom line of the company has dropped by 75% Y-o-Y to align with the RBI’s directive. The present ratio stands at 79:21 ratio (until Q3) which is well in line with the guidelines. ii) Fall in remittances business owing to Geo-political issues in North American market. However, the company is making focused efforts in enhancing retail sales with core focus on Corporate forex and leisure sales. Further, as part of customer-centric approach, the company is exploring own issuance of cards which is expected to provide more leverage going forward which can significantly add to its performance.
Informational and educational content only. Not investment advice.