Statement of Unaudited Financial Results for the Quarter ended 30th September,2025 and Limited Review Report thereon.
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Prism Finance reported a sharp swing to a loss in Q2 FY26, with a net loss of Rs 55.99 lakh versus a profit of Rs 377 lakh in Q1 FY26. Total revenue from operations collapsed to Rs 7.83 lakh from Rs 524.51 lakh in the previous quarter, driven by absence of fair value gains and lower gains on derecognition of financial instruments. Total expenses surged to Rs 134.41 lakh (vs Rs 47.33 lakh) mainly due to a Rs 109.92 lakh net loss on fair value changes. Half-yearly (H1 FY26) profit after tax stood at Rs 321.01 lakh, down from Rs 475.99 lakh in H1 FY25. The auditor issued a qualified conclusion flagging a Rs 100 lakh investment in BVM Finance Pvt. Ltd. (unquoted shares), whose net worth is negative and is under CIRP, but for which no impairment has been recognised.
The qualified audit opinion and the need to potentially write down the Rs 100 lakh BVM Finance investment are key red flags for shareholders. The dramatic quarter-on-quarter revenue drop and return to losses suggest earnings volatility, though half-yearly profits and a positive operating cash flow of Rs 179.28 lakh provide some cushion.