Archean Chemical Industries Reports Negative Financial Performance for Q1 2024
Archean Chemical Industries, a midcap company in the chemical industry, recently declared its financial results for the quarter ending March 2024. According to the report released on May 14, 2024, the company's stock has been given a 'Sell' call by MarketsMOJO.
The financial performance of Archean Chemical for the quarter has been negative, with a score of -18 compared to 1 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, profit before tax, and profit after tax. The company's net sales for the quarter were at Rs 283.39 crore, a decrease of 20.7% from the average net sales of the previous four quarters. The profit before tax less other income (PBT) also saw a decline of 44.1% compared to the average of the previous four quarters.
The company's operating profit (PBDIT) and operating profit margin were also at their lowest in the last five quarters, indicating a decrease in efficiency. The earnings per share (EPS) for the quarter were at Rs 4.83, the lowest in the last five quarters, showing a decline in profitability and lower earnings for shareholders.
On a positive note, the company's non-operating income was at its highest in the last five quarters, but it may not be sustainable in the long run. Overall, Archean Chemical's financial performance for the quarter has been negative, and the stock has been given a 'Sell' call by MarketsMOJO. Investors should carefully consider these factors before making any investment decisions.
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