Amber Enterprises India Announces Mixed Financial Results for Q1 2024
Amber Enterprises India, a midcap company in the consumer electronics industry, recently announced its financial results for the quarter ending March 2024. The stock call by MarketsMOJO for the company is 'Hold'.
According to the financials, Amber Enterp. has seen a negative performance in the quarter, with a score of -8, which has improved from -9 in the last 3 months. However, there are some positive aspects to the company's performance.
The operating profit (PBDIT) for the quarter was the highest in the last five quarters at Rs 221.89 crore, indicating a positive trend in the near term. The operating profit margin was also the highest in the last five quarters at 7.91%, showing an improvement in the company's efficiency.
On the other hand, there are some areas that need improvement for Amber Enterp. The interest cost for the quarter was Rs 48.30 crore, which has grown by 31.07% quarter on quarter (QoQ). This suggests an increase in borrowings for the company. The net sales for the quarter were Rs 2,805.46 crore, which has shown a negative growth of -6.57% year on year (YoY). The interest cost has also been the highest in the last five quarters and has increased by 31.07% (QoQ), indicating a need for better management of borrowings.
The profit before tax less other income (PBT) for the quarter was Rs 119.79 crore, which has fallen by -5.83% year on year (YoY). The profit after tax (PAT) for the quarter was Rs 94.67 crore, showing a decline of -9.0% year on year (YoY). These numbers suggest a negative trend in the near term for the company's profitability.
Overall, the financial results for the quarter ending March 2024 for Amber Enterprises India show a mixed performance. While there are some positive aspects, there are also areas that need improvement. Investors are advised to hold their position in the company's stock, as recommended by MarketsMOJO.
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