Ashiana Housing Reports 207.18% Surge in Net Profit for Q3 FY24

14 Feb 2024 CW Team

Ashiana Housing, a prominent real estate developer, has announced a remarkable surge in its net consolidated profit for the quarter ended December 30, 2023. According to a filing with the Bombay Stock Exchange (BSE), the company reported a staggering growth of 207.18% in its profit after tax (PAT), reaching Rs 278 million in Q3 FY24. This is a significant increase from the Rs 90.5 million registered in the corresponding quarter of the previous fiscal year.

The company's net consolidated total income also witnessed substantial growth, standing at Rs 1.89 billion in Q3 FY24. This represents a growth of 39.86% from the Rs 1.35 billion recorded in the similar quarter last year.

As of December 31, 2023, Ashiana Housing's financial indicators reflected a strong position. The company's net worth stood at Rs 7.52 billion, with a debt-equity ratio of 0.18. The current liability ratio was reported at 0.88, while the total debts to total assets ratio was 0.06. Additionally, the operating margin was noted at 20.58%, demonstrating efficient management of operational expenses, and the net profit margin stood at 14.69%.

This robust financial performance underscores Ashiana Housing's resilience and strategic acumen amidst challenging market conditions. The company's ability to significantly enhance its profitability and total income reflects its successful execution of growth strategies and prudent financial management.

Investors and stakeholders are closely watching Ashiana Housing's trajectory, anticipating further insights into its performance and future outlook as the real estate sector continues to navigate dynamic economic landscapes.

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