Ashnoor Textile Mills Reports Strong Financial Performance in Q2 2024.

Ashnoor Textile Mills, a microcap company in the textile industry, has recently declared its financial results for the quarter ending March 2024. The stock call by MarketsMOJO for Ashnoor Textile is 'Sell'.

Despite the negative stock call, Ashnoor Textile has shown a very positive financial performance in the quarter ending June 2024. The company's score has improved from -8 to 22 in the last 3 months, indicating a significant growth.

One of the key factors contributing to this growth is the increase in Profit Before Tax (PBT) by 311.6% compared to the average PBT of the previous four quarters. The company's Profit After Tax (PAT) has also seen a significant growth of 154.1% compared to the average PAT of the previous four quarters. This shows a very positive trend in the company's near term profitability.

Ashnoor Textile has also seen a growth of 54.0% in its Net Sales compared to the average Net Sales of the previous four quarters. This is the highest Net Sales in the last five quarters, indicating a positive trend in the company's sales performance.

The company's Operating Profit (PBDIT) and PAT have also shown a positive trend, with the highest figures in the last five quarters. This indicates that the company has been able to create higher earnings for its shareholders.

On the other hand, the company's Non Operating Income is 53.91% of its PBT, which is a cause for concern as it shows a high reliance on non-business activities for income.

However, Ashnoor Textile has been able to reduce its Debt-Equity Ratio to 1.18 times in the last five half yearly periods, indicating a decrease in borrowing compared to equity capital.

Overall, Ashnoor Textile Mills has shown a very positive financial performance in the quarter ending June 2024, with a strong focus on increasing profitability and reducing debt.