Rapid Investments Q1 Results Revenue ₹39.425 Million & ₹3.034 Million Net Profit

Rapid Investments Q1 Results

Rapid Investments Q1 Results: Rapid Investments saw a decrease in its overall performance compared to the previous quarter in the first quarter of the fiscal year 2024. The company reported a total revenue from operations of ₹39.425 lakhs, which is lower than the ₹55.869 lakhs recorded in the last quarter of the previous year.

However, this revenue is quite similar to what the company earned in the same quarter the previous year. The total income for this quarter was ₹40.145 lakhs, showing a decrease from ₹47.657 lakhs in the previous quarter.

The expenses for this quarter totaled ₹36.090 lakhs, slightly lower than the previous quarter's ₹40.051 lakhs. Despite managing to reduce some costs, the company's net profit fell to ₹3.034 lakhs, down from ₹8.101 lakhs in the previous quarter. This drop in profit also affected the earnings per share (EPS), which stood at ₹0.23 for both basic and diluted EPS, compared to ₹0.62 in the last quarter.

The results indicate a challenging start to the fiscal year for Rapid Investments, with lower revenues and profits compared to the previous quarter.

Here's a summary of the audited financial results for Rapid Investments for the quarter ended June 30, 2024:

Source: Here 

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Rapid Investments Stock Performance 

Rapid Investments is a small company with a market value of ₹14.4 crore. Its stock is currently priced at ₹110, with a recent high of ₹110 and a low of ₹96.3. The company's Price-to-Earnings (P/E) ratio is 80, meaning investors pay ₹80 for every ₹1 of earnings. 

Here's a breakdown of the key financial metrics you've provided:

Quarterly Results 

For Rapid Investments, the financial data for December 2023, March 2024, and June 2024 shows a mixed performance. In December 2023, sales were ₹0.46 Crores, with expenses at ₹0.34 Crores, resulting in an operating profit of ₹0.12 Crores and a profit margin of 26.09%. By March 2024, sales increased to ₹0.56 Crores, expenses rose slightly to ₹0.36 Crores, and operating profit grew to ₹0.20 Crores, with a higher profit margin of 35.71%. 

Here's the financial data for December 2023, March 2024, and June 2024:

About Rapid Investments 

Rapid Investments was established on June 2, 1978, as a company under Indian law. It is also registered as a Non-Banking Finance Company (NBFC) with the Reserve Bank of India since May 25, 1998, and is listed on the Bombay Stock Exchange (BSE). The company has been a significant player in the mortgage loan sector since 2017-18, focusing on providing financial services to underserved and rural areas, particularly in Rajasthan.

Rapid Investments currently operates more than 10 branches across Rajasthan. The company is committed to expanding its branch network and enhancing its loan services to reach more customers and improve its growth targets. The company’s mission is to grow by delivering excellent customer service and becoming the preferred choice for its stakeholders.

Rapid Investments introduced new business activities in 1990-91, leading to an update in its goals. As part of its expansion strategy, the company is bringing in more professionals and independent directors to improve its business capabilities and operations. This strategic move aims to strengthen the company's position and provide better services to its customers.