Recently-listed DAM Capital Advisors Ltd.'s consolidated net profit saw over a two-fold increase, while revenue from operations increased 64% quarter-on-quarter in the third quarter of the current financial year.
The net profit of the Dharmesh Mehta-led merchant banker climbed to Rs 52 crore in the quarter ended Dec. 31, 2024, as per the results declared by the company on Friday. In the previous quarter of the fiscal, it stood at Rs 22 crore.
The company's top line rose to Rs 104 crore, as compared to Rs 63 crore in the September quarter.
DAM Capital's investment banking revenue, too, saw a two-fold jump to Rs 80 crore, thereby contributing 77% to the top line. However, the company's stock broking revenue saw an 11% decline in the same period to Rs 20 crore.
DAM Capital Q3 FY25 Highlights (Consolidated, QoQ)
Net profit rose 2.3 times to Rs 52 crore versus Rs 22 crore.
Revenue increased 64% to Rs 104 crore versus Rs 63 crore.
Investment banking revenue rose 2.1 times to Rs 80 crore versus Rs 38 crore.
Stock broking fell 11% to Rs 20 crore versus 23 crore.
DAM Capital, which has been involved in five listings worth over Rs 11,000 crore and four qualified institutional placements worth over Rs 4,800 crore so far in this fiscal, said that it still has 18 IPOs in its pipeline.
The company's return on equity for the nine months ended December stood at 60.9% as opposed to 45% for the corresponding period of the prior year.
As of Dec. 31, the company had Rs 238-crore net cash in hand versus Rs 198 crore that it reported as of Sept. 30.
DAM was listed on the exchanges on Dec. 27 at a premium of 39% after its IPO was subscribed over 82 times. However, the stock has been trading under pressure and recently fell below its issue price of Rs 283.
Shares of DAM Capital on Friday settled 1.74% lower at Rs 279.85 apiece on on the BSE as compared to a 0.43% decline in the benchmark Sensex. The company's quarterly results were declared after the market hours.
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