Axtel Industries Reports Negative Financial Results for Q1 2024, Investors Advised to Hold Stock
Axtel Industries, a smallcap engineering company, recently announced its financial results for the quarter ended March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Axtel Industries has seen a negative performance in the quarter, with a score of -6 compared to 25 in the previous quarter. This decline can be attributed to various factors.
One of the major factors affecting the company's performance is the decrease in net sales, which have fallen by -22.53% year on year. This is a significant drop and indicates a negative trend in the company's sales in the near term.
Another concerning aspect is the decline in Profit Before Tax (PBT) less Other Income, which has fallen by -47.64% year on year. This indicates a decrease in the company's profitability in the near term.
The company's Profit After Tax (PAT) has also seen a decline of -52.1% year on year, further highlighting the negative trend in its financial performance.
The Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, at Rs 3.29. This indicates a decline in profitability and lower earnings for shareholders.
Overall, Axtel Industries' financial results for the quarter ended March 2024 have been negative, with a decline in sales, profitability, and earnings. Investors are advised to hold their stock and monitor the company's performance in the coming quarters.
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