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Awaiting price reaction for this filing.
Prithvi Exchange, an RBI-licensed foreign exchange dealer, announced its FY25 results on May 24, 2025. Total revenue fell about 15% to ₹3,52,472 lakhs (₹4,15,986 lakhs in FY24), while Q4 revenue dropped to ₹72,135 lakhs from ₹93,774 lakhs. Net profit for FY25 stood at ₹1,095 lakhs versus ₹1,306 lakhs last year, and Q4 profit collapsed to just ₹29 lakhs from ₹512 lakhs. Management blamed RBI's new 25:75 bulk-to-retail business ratio directive, student visa caps in Europe and Canada, and reduced travel spending due to global tensions. On the positive side, the company opened 5 new branches in Q4 (Amritsar, Kolkata, Anand, Kanpur, Surat), taking the total to 31 branches across 18 cities, was empaneled with SBI, and won a Deloitte Enterprise Growth Award. Plans are in place to add 6-7 more branches and explore in-house card issuance.
Sharp profit decline and weaker revenue growth are negative signals for near-term sentiment, though the SBI empanelment, branch expansion, and recovery in global travel could support a turnaround. Investors should weigh the regulatory headwinds against the company's growth initiatives.