Ahmedabad Steelcraft's Q1 Financial Results Show Negative Performance, Investors Beware
Ahmedabad Steelcraft, a microcap trading company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Ahmedabad Steelcraft has seen a negative performance in the quarter, with a score of -9 compared to 0 in the previous three months. This decline can be attributed to several factors.
One of the major concerns is the company's Profit Before Tax (PBT) less Other Income, which has fallen by 582.7% to Rs -3.26 crore compared to the average PBT of the previous four quarters, which was Rs -0.48 crore. This indicates a very negative trend in the near term.
Similarly, the Profit After Tax (PAT) has also seen a significant decline of 431.9% to Rs -1.25 crore compared to the average PAT of the previous four quarters, which was Rs -0.24 crore. The Operating Profit (PBDIT) has also hit a low of Rs -3.25 crore, indicating a negative trend in the near term.
The company's Earnings per Share (EPS) have also been affected, with a decline to Rs -3.06 in the last five quarters. This shows a declining profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Ahmedabad Steelcraft. Investors are advised to carefully consider these factors before making any investment decisions.
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