*5Paisa Capital Ltd.* | *CMP* Rs. 501 | *M Cap* Rs. 1473 Cr | *52 W H/L* 580/236
(Nirmal Bang Retail Research)
*Result has declined*
Revenue from Operations came at Rs. 67.9 Cr (13% QoQ, 30% YoY) vs QoQ Rs. 60.1 Cr, YoY Rs. 52.4 Cr
Brokerage income revenue came at Rs. 46.5 Cr vs QoQ Rs. 45.0 Cr & YoY Rs. 37.3 Cr
EBIDTA came at Rs. 7.3 Cr (-49.9% QoQ, -36.6% YoY) vs QoQ Rs. 14.7 Cr, YoY Rs. 11.6 Cr
EBITDA Margin came at 10.8% vs QoQ 24.4%, YoY 22.1%
Other expenses were at Rs. 51 Cr vs QoQ Rs. 36 Cr & YoY Rs. 31 Cr. We believe bulk of the increase is towards ad spends. Co had previously shown intent that post fund raising in April 2021, it would aggressively pursue market share and thus profitability was expected to decline.
Adj. PAT came at Rs. 1.4 Cr vs QoQ Rs. 7.2 Cr, YoY Rs. 2.8 Cr
Quarter EPS is Rs. 0.5
Share is trading at P/E of 83.6x TTM EPS