CG-VAK Software & Exports Reports Decline in Sales and Profit for Q2 2024
CG-VAK Software & Exports, a microcap IT software company, recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, CG-VAK Software has seen a negative performance in the quarter, with a score of -13 compared to -9 in the previous quarter. This is a concerning trend for the company.
One of the main factors contributing to this negative performance is the decline in net sales. The company's net sales for the quarter were at Rs 18.23 crore, the lowest in the last five quarters. This is a significant decrease from the average net sales of the previous four quarters, which were at Rs 19.65 crore. The near-term sales trend for the company is also negative.
Another concerning aspect is the decline in profit after tax (PAT). The company's PAT for the quarter was at Rs 1.75 crore, the lowest in the last five quarters. This is a worrying trend for shareholders as the company's profitability has been declining.
In addition, the company's earnings per share (EPS) for the quarter were at Rs 3.47, the lowest in the last five quarters. This indicates a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending June 2024 have not been positive for CG-VAK Software & Exports. Investors should take note of the negative trends and consider the 'Sell' call given by MarketsMOJO.
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