Monarch Networth Capital reports 74% growth in Q1 PAT

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Standalone EBIDTA grew by 58.82%, to INR 547.48 lakh in the quarter ended on June 30 from INR 344.72 lakh in the corresponding quarter

Monarch Networth Capital Limited (MNCL), a financial services provider which is a part of Monarch group, announced its financial results for the first quarter (Q1) of the financial year 2018-19, ended on June 30, 2018. The company reported a superior quarterly performance, having achieved 74.07% growth in profit after tax (PAT) for the quarter growing from Rs 243.26 lakh to Rs 423.45 lakh, on a year-on-year basis. The standalone total income for the quarter increased by 13.28% growing to Rs 1,864.73 lakh during the quarter, from Rs 1,646.18 lakh in the corresponding quarter of FY 2017-18.

The standalone EBITDA for the quarter ended on June 30, raised to Rs 547.48 lakh from Rs 476.32 lakh in the immediate previous quarter that ended on March 31, 2018. The same in the corresponding quarter of FY 2017-18 stood at Rs 344.72 lakh, thus registering a growth of 58.82%.

The company’s gross earnings went down from Rs 1,911.76 lakh in the immediate previous quarter ended on March 31, 2018; and settled at Rs 1,650.49 lakh in Q1 of FY 2018-19. However, the administrative and selling cost decreased from Rs 1,036.70 lakh during the immediate previous quarter, to Rs 730.70 lakh in the quarter that ended on June 30, 2018.

As a result, the net operating margin of the company increased to Rs 333.26 lakh (20.19%) in Q1 against Rs 294.11 lakh (15.38%) in the immediate previous quarter. The same stood at Rs 223.88 lakh (14.66%) in the corresponding quarter of FY 2017-18.

The standalone earnings per share decreased to Rs 1.43 in Q1 of FY 2018-19 from Rs 1.82 in the immediate previous quarter. The same increased against Rs 0.80 from the corresponding quarter of FY 2017-18.

The profit before tax for the quarter amounts to Rs 476.87 lakh as compared to Rs 413.83 lakh in the immediate previous quarter and as against a profit of Rs 277.17 lakh for the corresponding quarter of FY 2017-18.

Business spread and diversification during the quarter:

  1. A total of 20 new business associates connected with MNCL
  2. The company has aggressively started with its merchant banking operations and has launched four SME IPOs during the period. It has also raised multiple mandates which will provide additional business revenue to the existing line of business.
  3. MNCL has also commenced with its business of Insurance Distribution through Life, Health and General Insurance selling.

Source: BWI

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