Camlin Fine Sciences Reports Negative Financial Results for Q1 2024
Camlin Fine Sciences, a smallcap company in the chemicals industry, recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Strong Sell' call by MarketsMOJO.
According to the financial report, Camlin Fine has seen a negative performance in the quarter, with a score of -14, which has improved from -20 in the last three months. This indicates a downward trend in the company's financials.
One of the major factors contributing to this negative performance is the Profit Before Tax (PBT) less Other Income, which has fallen by -361.07% Year on Year (YoY) to Rs -25.35 crore. This trend is expected to continue in the near term.
Similarly, the Profit After Tax (PAT) has also seen a significant decline of -318.3% YoY to Rs -33.95 crore. This is a cause for concern for the company and its investors.
Another concerning aspect is the rising interest cost, which has grown by 44.53% Quarter on Quarter (QoQ) to Rs 23.37 crore. This signifies increased borrowings by the company.
In terms of sales, Camlin Fine has seen a decline of -5.66% YoY to Rs 395.85 crore in the quarter. This is a negative trend in the near term for the company.
Moreover, the interest cost for the quarter is the highest in the last five quarters, indicating a continuous increase in borrowings. This is a red flag for investors.
Overall, the financial results for the quarter ending June 2024 have not been favorable for Camlin Fine Sciences. The company will need to address these issues and take necessary steps to improve its financial performance in the future.
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