Nicco Uco Alliance Credit Q1 Results Operating Profit ₹-0.19 Crore & Total Revenue ₹0.00 Crore

Nicco Uco Alliance Credit Grwoth Overview

Nicco Uco Alliance Credit: Nicco Uco Alliance Credit’s Q1 financial results show significant changes compared to previous periods. For the fiscal quarter ending June 2024, the company reported no revenue, which is the same as in the previous quarter (QoQ) and year-over-year (YoY). 

Nicco Uco Alliance Credit’s total selling, general, and administrative expenses remained unchanged from the previous quarter but decreased YoY. Specifically, these expenses went down by 13.55% QoQ and 11.06% YoY. Depreciation and amortization were zero in both periods, showing a 25% decrease QoQ and YoY, indicating lower asset usage or cost reduction.

Nicco Uco Alliance Credit’s Operating expenses dropped by 67.97% QoQ but rose 64.78% YoY, which shows that while the company managed to reduce these costs compared to the previous quarter, they were higher than a year ago. Despite these cost reductions, operating income remains negative, although it improved by 67.97% QoQ. 

Nicco Uco Alliance Credit’s Net income before taxes and net income both worsened YoY, increasing losses by 24.08% compared to the same quarter last year. The diluted normalized earnings per share (EPS) also decreased by 24.33% YoY. Overall, the results highlight challenges in profitability despite some improvements in cost management.

Here's a summary of Nicco Uco Alliance Credit's Q1 financial results:

(All figures in crores except per share values)

Source: Here 

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Nicco Uco Alliance Credit Q1 Results

Nicco Uco Alliance Credit earned ₹0.69 lakhs from operations and had no other income for the quarter, so their total income was also ₹0.69 lakhs. They had no expenses reported, such as costs for materials or employee salaries, so their total expenses were ₹0.00 lakhs. This means their profit before taxes and exceptional items was ₹0.69 lakhs. After taxes, which were also ₹0.00 lakhs, their net profit remained ₹0.69 lakhs. There were no profits or losses from discontinued operations.

In contrast, for the year ending March 31, 2024, Nicco Uco Alliance Credit earned ₹65.91 lakhs from operations. They had significant expenses totaling ₹1216.25 lakhs, including costs and employee benefits. This resulted in a large loss of ₹1150.55 lakhs before taxes and exceptional items. After considering taxes, the total loss remained substantial. The company's total comprehensive loss for the year was ₹1148.38 lakhs.

Nicco Uco Alliance Credit’s earnings per share were negative for both the quarter and the year, indicating financial difficulties. The paid-up equity share capital was ₹1656.36 lakhs for both periods.

Here’s the financial results statement in a table format:

Nicco Uco Alliance Credit Financial Metrics

The table provides financial details about Nicco Uco Alliance Credit. The market cap, or total value of all its shares, is ₹2.41 Crores, indicating the company's overall size in the stock market. The current price of the company's stock is ₹0.29. However, the highest and lowest prices are not specified. The book value, which reflects the company's net worth per share, is negative at ₹-79.1, suggesting financial difficulties. 

Here's the information in table format:

Quarterly Results 

Nicco Uco Alliance Credit shows their financial performance for December 2023, March 2024, and June 2024. In December 2023, the company had no sales and reported expenses of ₹0.12 crores, resulting in an operating loss of ₹0.12 crores. They earned ₹0.08 crores from other income and paid ₹2.88 crores in interest, leading to a loss before tax of ₹2.92 crores. Net profit remained the same at a loss of ₹2.92 crores, with an EPS of -₹0.35.

Here's the table for December 2023, March 2024, and June 2024 with the particulars:

About Nicco Uco Alliance Credit

Nicco Uco Alliance Credit is a finance company based in India, established in 1984. Initially, the company focused on leasing, bill discounting, and trading in shares and securities. It was notable for being the first finance company in India to include prestigious international and national banks as shareholders, such as the International Finance Corporation, Sanpaolo Bank from Italy, Hambros Bank from the UK, and Uco Bank. This diverse shareholder base helped boost the company's resources and operational efficiency.

Over the years, Nicco Uco Alliance Credit underwent several changes and improvements. In 1993, it merged with Sanpaolo Hambro Nicco Finance to strengthen its position in the market. In 1996, Nicco Uco Financial Services issued Rights Shares, providing more opportunities for investment. By 1997, the company had earned an ISO 9001 certification for its quality systems, showcasing its commitment to high standards. The company also secured a significant loan agreement with the International Finance Corporation.