Acknit Industries Reports Flat Performance in Q2, PAT Shows Growth
Acknit Industries, a microcap textile company, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Acknit Industries has seen a flat performance in the second quarter of the fiscal year 2024-2025. The company's score has dropped from 4 to 0 in the last three months.
However, there are some positive aspects to the company's financials. The Profit After Tax (PAT) for the nine-month period has shown a growth of 24.22% year on year, amounting to Rs 7.13 crore. The near-term trend for PAT is also positive.
On the other hand, the company's operating cash flow for the year has been the lowest in the last three years, at Rs -8.53 crore. This indicates a decline in the company's cash revenues from business operations.
Despite the mixed financial performance, Acknit Industries remains a key player in the textile industry. Investors and experts are advised to carefully analyze the company's financials before making any investment decisions.
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