Austin Engineering Company Reports Positive Financial Trends in Q1 2024 Results
Austin Engineering Company, a microcap company in the bearings industry, has recently announced its financial results for the quarter ending March 2024. The results, declared on May 30, 2024, have received a 'Sell' call from MarketsMOJO.Despite this, the company has shown a flat financial performance for the quarter. However, there are some positive aspects to note from the financials. The company's score has improved from -7 to 5 in the last 3 months, indicating a positive trend.
One of the key highlights is the growth in Profit After Tax (PAT) for the quarter, which has increased by 92.8% to Rs 1.60 crore compared to the average PAT of the previous four quarters at Rs 0.83 crore. This shows a very positive trend in the near term.
Moreover, the company's net sales for the quarter have also shown improvement, reaching the highest at Rs 31.01 crore in the last five quarters. This indicates a positive trend in the near term for sales.
In terms of profitability, the company has also shown a positive trend with the highest PAT of Rs 1.60 crore in the last five quarters. This is a good sign for the company's financial health.
Lastly, the company's Earnings per Share (EPS) for the quarter have also increased to the highest at Rs 4.60 in the last five quarters. This shows that the company has been able to create higher earnings for its shareholders.
Overall, while the stock call may be 'Sell' by MarketsMOJO, Austin Engineering Company has shown some positive trends in its financials for the quarter ending March 2024.
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