Acknit Industries Reports Mixed Performance in Q1 FY25, Positive Sales and Profit Trends.
Acknit Industries, a microcap textile company, has recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.
According to the financial report, Acknit Industries has shown a flat performance in the quarter, with a score of 4 out of 10, which is a decrease from the previous score of 7 in the last 3 months.
However, there are some positive aspects to the company’s financials for the first half of the year. The net sales for the half-yearly period stood at Rs 125.68 crore, showing a growth of 22.22% compared to the same period last year. This indicates a positive sales trend in the near term.
Moreover, the company’s Profit After Tax (PAT) for the half-yearly period was Rs 5.05 crore, showing a growth of 32.20% compared to the previous year. This also indicates a positive trend in the near term for the company’s profits.
Overall, Acknit Industries has shown a mixed performance in the quarter ending June 2024, with some positive aspects in terms of sales and profits. Investors are advised to hold their positions in the company’s stock, as suggested by MarketsMOJO.
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