Athena Global Technologies Reports Positive Growth in Q1 2024, But Concerns Remain

Athena Global Technologies, a microcap IT software company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.

According to the financial report, Athena Global has shown positive performance in the quarter, with a score of 15 compared to -1 in the previous 3 months. This improvement can be attributed to several factors, including a significant growth in Profit After Tax (PAT) of Rs 220.60 crore, which is a 3936.5% increase from the average PAT of the previous four quarters. The company's net sales have also seen a growth of 45.66% year on year, with a quarterly PAT of Rs 164.87, the highest in the last five quarters.

However, there are some areas of concern for Athena Global, as seen in the financial report. The company's Profit Before Tax less Other Income (PBT) has fallen by -130.2% compared to the average of the previous four quarters. Additionally, the Debtors Turnover Ratio has decreased each half year in the last five periods, indicating a slower pace in settling debts. The company's Operating Profit (PBDIT) and PBT have also shown a negative trend in the last five quarters.

It is worth noting that Athena Global's Non Operating Income is 106.38% of its PBT, which may not be a sustainable business model. The company's income from non-business activities has also increased significantly in the last five quarters, raising concerns about its sustainability.

Overall, Athena Global's financial performance for the quarter ending March 2024 has shown positive growth in some areas, but there are also areas of concern that need to be addressed. Investors are advised to carefully consider these factors before making any investment decisions.