Vax Housing Finance Reports Flat Revenue and Zero Profit for Second Quarter
The company posted flat quarterly revenue of ₹0.01 crore and no profit for the second consecutive quarter.
Vax Housing Finance Corporation reported its Q2 FY23 results, showing revenue remained flat at ₹0.01 crore and profit was zero. The company has not generated profit for the last three quarters.
Vax Housing Finance Corporation has reported its financial results for the quarter ended September 2022, showing a continuation of its recent performance. Revenue remained unchanged from the previous quarter, while the company again reported zero profit.
The latest figures show no growth in the company's top line. Revenue was flat quarter-on-quarter at ₹0.01 crore, identical to the amount reported in Q1 FY23. Profit after tax was zero, resulting in a net profit margin of 0.0%.
This pattern extends back to the previous fiscal year. The company's performance over the last three reported quarters has been consistent, with no profit generated in any period.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
| Metric | CurrentQ2 FY23 | PreviousQ1 FY23 |
|---|---|---|
| Period | Quarter ended September 2022 | Quarter ended June 2022 |
| Revenue (₹ Cr) | 0.01 | 0.01 |
| Profit (₹ Cr) | 0.0 | 0.0 |
| Net Profit Margin | 0.0% | 0.0% |
On the balance sheet, the company maintains a high current ratio of 48.69, indicating significant short-term liquidity relative to its obligations. The full-year results for FY22 showed both revenue and profit at zero, suggesting the current quarterly trend is part of a longer-term phase for the business.
The key challenge for Vax Housing Finance remains translating its investment and real estate operations into profitable growth beyond its current minimal revenue base.
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· VAX HSG. FIN. CORP.
(BSE)
ISIN: INE761B01017
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