Irfc latest results good or bad?
Here we will discuss latest results of December quarter in IRFC share, as you know since last 5 to 6 months , irfc is giving multibagger returns.
but it is the thumb rule of stock market , that any stock which is higher in valuation will reach its original valuation soon.
In same line if you see the results of IRFC in dec 23 quarter means Q3 results, you will observe that ,
Revenue is about 6741 crores, and total income is 6745 crores, it was 6767 crores in last quarter, so you can see there is the decline in income from 22 crores rupees.
Total expenses are 5141 crores, while it was 5217 crores in last quarter, so you can see that company is cutting it's expenses.
After such figures company managed to get 1604 crores of profit from this quarter, which was 1549 crores in previous quarter. so there is the growth of about 3.55 % in net profit, in spite of declining in income.
so main business of company not able to provide revenue growth for now.
Let's see what happens in next quarter.
In dec.22 quarter results , company managed to get the profit of 1633 crores. so if we compare the QOQ growth in net profit , it is negative. which is not good.
At present IRFC is trading at very high PE in compare to it's peers.
Which is also not a good signal.
So all we can observe is that results are not good in terms of growth.
So one should observe next quarter results for fresh investment,
Wait and Watch should be the strategy as of now.
Thankou Readers.