NewsEarningsGlance Finance Reports ₹40.75 Lakh Net Profit for Q3 FY2025, Down from Previous QuarterGlance Finance Reports ₹40.75 Lakh Net Profit for Q3 FY2025, Down from Previous Quarter
Glance Finance Limited, an NBFC, reported Q3 FY2025 results with net profit of ₹40.75 lakhs and total income of ₹593.11 lakhs, down from Q2. Nine-month net profit improved to ₹230.28 lakhs from ₹137.43 lakhs year-over-year. Auditors noted non-compliance with accounting standards for gratuity and leave encashment provisions.
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Glance Finance Limited , a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, has released its unaudited financial results for the third quarter and nine months ended December 31, 2024. The company's Board of Directors approved these results, which show a mixed performance compared to previous periods.
Quarterly Performance
For the quarter ended December 31, 2024, Glance Finance reported:
- Net profit after tax: ₹40.75 lakhs
- Total income: ₹593.11 lakhs
These figures represent a decrease from the previous quarter, where the company had reported:
- Net profit after tax: ₹98.13 lakhs
- Total income: ₹1,349.11 lakhs
Nine-Month Performance
Looking at the broader nine-month period, Glance Finance showed improvement year-over-year:
- Net profit after tax (9 months ended Dec 31, 2024): ₹230.28 lakhs
- Net profit after tax (corresponding previous period): ₹137.43 lakhs
This indicates an increase in profitability for the nine-month period compared to the same timeframe in the previous year.
Auditor's Qualified Review
The company's statutory auditors issued a qualified review report, highlighting a notable point regarding the company's financial practices:
- The provision for gratuity and leave encashment was not calculated using actuarial valuation as required by accounting standards.
- Instead, Glance Finance made these provisions on an estimated basis.
This qualification suggests that the company's approach to these particular liabilities may not fully align with standard accounting practices.
About Glance Finance Limited
Glance Finance Limited operates as a Non-Banking Financial Company (NBFC) under the regulatory purview of the Reserve Bank of India. The company's primary business activities revolve around finance and investment.
Financial Results Overview
| Particular | Q3 FY2025 | Q2 FY2025 | 9M FY2025 | 9M FY2024 |
|---|---|---|---|---|
| Net Profit After Tax (₹ in lakhs) | 40.75 | 98.13 | 230.28 | 137.43 |
| Total Income (₹ in lakhs) | 593.11 | 1,349.11 | - | - |
The financial results reveal a quarter-on-quarter decline in both net profit and total income for Glance Finance. However, the nine-month performance shows a positive trend with increased profitability compared to the previous year.
Historical Stock Returns for Glance Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -9.40% | -3.53% | -5.11% | +22.44% | +61.27% | +260.60% |
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