Please note that the Board of Directors in their meeting held today, have taken on record the Unaudited Financial Results for the quarter ended on 30th June, 2025. We are enclosing herewith ....
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Prism Finance Ltd, a non-banking finance company based in Ahmedabad, reported unaudited Q1 FY26 results with total income of Rs. 524.51 lakh, down about 30.6% from Rs. 756.28 lakh in the same quarter last year. Net profit stood at Rs. 377 lakh (EPS of Rs. 5.80), compared to Rs. 454.33 lakh (EPS Rs. 6.99) in Q1 FY25. Revenue came mainly from net gains on fair value changes (Rs. 100.79 lakh) and net gain on derecognition of financial instruments (Rs. 421.68 lakh), while total expenses dropped sharply to Rs. 47.33 lakh from Rs. 142.54 lakh. The company has zero outstanding debt or defaults. However, the statutory auditors (H K Shah & Co.) issued a qualified conclusion flagging that the company holds Rs. 100 lakh in unquoted shares of BVM Finance Pvt. Ltd., whose net worth is negative, and the company has not written down this investment, meaning profit and assets may be overstated.
Despite remaining profitable, the sharp year-on-year revenue decline and the auditor's qualification on a Rs. 100 lakh investment in a negative-net-worth company are concerns for shareholders. The auditor's note effectively warns that true profits and asset values could be lower than reported, and investors should track management's response in upcoming quarters.