Chartered Logistics Reports Mixed Q3 Results
Chartered Logistics, a microcap company in the logistics industry, recently announced its financial results for the quarter ended September 2023. According to the data released on November 10, 2023, the company's net sales for the quarter showed a decline of 12.77% compared to the previous quarter. The standalone net profit, however, saw a significant increase of 63.64% in the same period.
The operating profit (PBDIT) excluding other income also showed a slight growth of 1.05% compared to the previous quarter. However, the interest expenses for the quarter increased by 31.00%, which could be a cause for concern. Despite this, the company's operating profit margin (excluding other income) has improved from the previous quarter.
Market analysts at MarketsMOJO have given a 'Sell' call for the company's stock based on its financial performance in the quarter. The company's overall score has fallen from -4 to -6 in the last three months.
On a positive note, Chart.Logistics has shown a higher profit after tax (PAT) of Rs 0.41 crore in the nine-month period, compared to the preceding 12-month period. The company has also surpassed its sales from the previous 12 months in just nine months, indicating a strong performance in terms of profitability.
However, there are some areas of concern for Chart.Logistics. The quarterly net sales of Rs 16.46 crore have fallen by 18.7% compared to the average net sales of the previous four quarters. The company's operating cash flow for the year has also been the lowest in the last three years, indicating a decline in cash revenues from business operations. Additionally, the quarterly net sales have been the lowest in the last five quarters, showing a negative trend in the near term.
Overall, the financial results for the quarter ended September 2023 have been mixed for Chart.Logistics. While there are some positive aspects, there are also areas that need improvement. Investors should carefully analyze the company's performance before making any investment decisions.
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