Abhinav Leasing & Finance Reports Mixed Results
Abhinav Leasing & Finance, a microcap finance company, recently announced its financial results for the quarter ended September 2023. The company's stock has been given a 'Sell' call by MarketsMOJO.In the quarter, the company saw a growth of 33.65% in net sales compared to the previous quarter, which only saw a growth of 1.36%. However, the standalone net profit remained stagnant at 0.00% growth. The operating profit (PBDIT) excluding other income showed a significant improvement of 120.00% compared to a decline of -104.03% in the previous quarter. Interest expenses also saw a sharp increase of 166.67% compared to a decline of -97.30% in the previous quarter. The operating profit margin (excluding other income) also showed improvement compared to the previous quarter.
Despite the negative financial performance in the quarter, Abhinav Leasing has shown some positive aspects in its financials. The company's profit after tax (PAT) for the nine-month period was higher at Rs 0.09 crore compared to the previous 12-month period of Rs 0.03 crore. In fact, in the nine-month period, the company has already surpassed its sales from the previous 12 months.
However, the company's net sales for the quarter were at Rs 6.99 crore, which is a decline of -38.9% compared to the average net sales of the previous four quarters at Rs 11.44 crore. This indicates a negative trend in the near term for the company's sales.
Overall, Abhinav Leasing & Finance has seen a decline in its financial performance in the quarter ended September 2023. The company's stock has also been given a 'Sell' call by MarketsMOJO. Investors should carefully consider these factors before making any investment decisions.
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