My Money Securities Reports Q1 Loss of Rs 17.73 Lakh Amid Market Volatility
My Money Securities Limited reported a net loss of Rs 17.73 lakh for Q1 ended June 30, compared to a profit of Rs 1,041.25 lakh in the same quarter last year. Total income was Rs 86.42 lakh, while expenses reached Rs 158.63 lakh. The company faced a significant mark-to-market loss of Rs 101.52 lakh on investments. Revenue from operations declined to Rs 34.37 lakh from Rs 1,470.12 lakh in the previous year. EPS dropped to -Rs 0.46 from Rs 6.20 year-over-year.
*this image is generated using AI for illustrative purposes only.
My Money Securities Limited, a financial services company, has reported a significant downturn in its financial performance for the first quarter. The company's unaudited financial results, approved by the Board of Directors on August 14, reveal a net loss of Rs 17.73 lakh for the quarter ended June 30, marking a stark contrast to the profit of Rs 1,041.25 lakh recorded in the same quarter of the previous year.
Financial Highlights
- Revenue: The company's revenue from operations stood at Rs 34.37 lakh for the quarter.
- Total Income: Including other income of Rs 52.05 lakh, the total income amounted to Rs 86.42 lakh.
- Expenses: Total expenses for the quarter were Rs 158.63 lakh, significantly higher than the total income.
- Loss per Share: The earnings per share (EPS) declined to negative Rs 0.46, compared to positive Rs 6.20 in the corresponding quarter last year.
Key Factors Affecting Performance
The company's financial results were notably impacted by:
- Market Volatility: Other expenses included a substantial mark-to-market loss of Rs 101.52 lakh on investments held by the company, indicating significant market fluctuations.
- Operational Challenges: The revenue from operations at Rs 34.37 lakh shows a considerable decrease compared to the previous year's performance.
Comparative Analysis
| Particulars (in Lakh) | Q1 Current | Q1 Previous |
|---|---|---|
| Revenue from Operations | 34.37 | 1,470.12 |
| Total Income | 86.42 | 1,491.20 |
| Total Expenses | 158.63 | 98.80 |
| Profit/(Loss) Before Tax | (72.21) | 1,392.40 |
| Net Profit/(Loss) | (17.73) | 1,041.25 |
| EPS (in Rs) | (0.46) | 6.20 |
The table clearly illustrates the significant year-over-year decline across all major financial metrics.
Management Commentary
While specific management comments were not provided in the financial release, the dramatic shift from profit to loss suggests that My Money Securities faced challenging market conditions and potentially adverse investment outcomes during the quarter.
Auditor's Review
Sharma Goel & Co. LLP, the company's statutory auditors, conducted a limited review of the financial results. They stated that nothing has come to their attention that causes them to believe that the financial statements do not present a true and fair view in accordance with applicable accounting standards and SEBI regulations.
Investor Considerations
Investors and stakeholders should note the volatility in the company's performance and the significant impact of market-to-market losses on investments. The company's ability to navigate market uncertainties and improve operational efficiency will be crucial factors to watch in the coming quarters.
My Money Securities Limited continues to operate in a dynamic financial environment, and future performance will likely depend on both market conditions and the company's strategic responses to these challenges.
Historical Stock Returns for My Money Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.84% | -3.77% | +3.04% | +87.22% | -1.60% | +121.33% |
16
