The company started a new business from ground zero in Q1 FY24. Even then, it always gave positive EBITDA nos. That it self is a big deal, most business will fail this criteria at that stage. As it scaled over next 3 qtrs. it slowly got very close to it’s desired margins. Normally Since PE is a historical measure it will make sense to use it when history is normal. Clearly it isn’t the case when a business is just born. That’s reason no.1.
2nd like you also mentioned, since interest income is a BIG part of the PAT and we know that the cash that’s giving that income is going to get used, then no point including that in eps and getting to PE. EV/EBITDA helps to get over this problem. and forward looking EV/EBITDA ratio is a better measure to see if it makes a case for investment or not. These are MHO, others can help more in theoretical concepts. I am not a purist when it comes to valuation and investment theory related topics 
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