Are Ritesh Intl. latest results good or bad?
The Profit After Tax (PAT) for the quarter was Rs 0.44 crore, which represents a decline of 48% compared to the average PAT of Rs 0.85 crore over the previous four quarters. This decline raises concerns regarding the company's profitability. Furthermore, Ritesh International's cash and cash equivalents have reached their lowest level in the last six half-yearly periods, totaling Rs 0.22 crore, indicating deteriorating short-term liquidity and potential financial stability issues.
In the quarterly results snapshot, net sales showed a quarter-on-quarter decline of 6.83% compared to the previous quarter. The standalone net profit also experienced a significant quarter-on-quarter decline of 81.19%. Additionally, the operating profit margin, excluding other income, decreased by 5.42%.
Overall, while Ritesh International has demonstrated strong sales growth, the challenges in profitability and liquidity are noteworthy. The company saw an adjustment in its evaluation, reflecting these mixed operational trends.
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