Acknit Industries Reports Strong Financial Performance in Q1 2024.
Acknit Industries, a microcap textile company, has recently announced its financial results for the quarter ending March 2024. The company has shown positive performance in this quarter, with a score of 7 compared to -1 in the previous three months.One of the key highlights of the financial report is the increase in net sales, which reached a record high of Rs 68.45 crore in the last five quarters. This shows a positive trend in the company's sales performance in the near term. Additionally, the net sales have grown by 29.20% year on year, indicating a steady growth in the company's sales.
The operating profit (PBDIT) for this quarter also saw a significant increase, reaching its highest at Rs 5.51 crore in the last five quarters. This shows a positive trend in the company's operating profit in the near term.
Furthermore, the profit before tax less other income (PBT) also saw a significant increase, reaching its highest at Rs 4.11 crore in the last five quarters. This shows a positive trend in the company's PBT in the near term, with a year on year growth of 33.88%.
The profit after tax (PAT) for this quarter also saw a significant increase, reaching its highest at Rs 3.07 crore in the last five quarters. This shows a positive trend in the company's PAT in the near term.
Overall, Acknit Industries has shown a positive financial performance in the quarter ending March 2024, with increasing profitability and higher earnings per share for its shareholders. Based on these results, MarketsMOJO has given a 'Sell' call for the company's stock.
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