AksharChem (I) Reports Highest Net Sales in Q1 2024, But PAT and PBT Show Significant Decrease
AksharChem (I), a microcap company in the dyes and pigments industry, recently announced its financial results for the quarter ending March 2024. The company's net sales for the quarter were at its highest at Rs 81.79 crore, showing a consistent growth trend in the last five quarters. However, the company's profit after tax (PAT) for the quarter was at Rs -6.02 crore, a significant decrease of 64.7% compared to the average PAT of the previous four quarters. Similarly, the profit before tax (PBT) less other income for the quarter was at Rs -4.10 crore, a decrease of 16.7% compared to the average PBT of the previous four quarters.
Despite the positive sales trend, the financial performance of AksharChem (I) for the quarter has been deemed as flat by MarketsMOJO, who have given a 'Strong Sell' call for the company's stock. The overall score for the company has also fallen from 2 to -1 in the last three months.
While the company's net sales show promise, the decrease in PAT and PBT is a cause for concern. Investors should carefully consider these financials before making any investment decisions.
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