Concord Biotech Announces Q2 Financial Results, Operating Cash Flow at Record High

Concord Biotech, a midcap pharmaceutical company, recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, Concord Biotech's performance for the quarter has been flat, with a score of -3 compared to 13 in the previous quarter. However, there are some positive aspects to the company's financials.

One of the key highlights is the company's operating cash flow, which has been consistently growing over the last three years and is currently at its highest at Rs 265.47 crore annually. This indicates that the company has been able to generate higher cash revenues from its business operations.

Concord Biotech has also been distributing higher dividends to its shareholders, with the Dividend per Share (DPS) at its highest in the last five years at Rs 8.75. The Dividend Payout Ratio (DPR) is also at its highest in the last five years at 30.04%, indicating that the company is distributing a higher proportion of its profits as dividends.

However, there are some areas of concern in the financial report. The Profit Before Tax less Other Income (PBT) for the quarter has fallen by 26.9% compared to the average PBT of the previous four quarters. The Profit After Tax (PAT) has also fallen by 22.6% compared to the average PAT of the previous four quarters. The Net Sales for the quarter have also seen a decline of 15.1% compared to the average Net Sales of the previous four quarters.

Overall, the near-term trend for Concord Biotech's financials seems to be negative. Investors are advised to hold their stock and keep a close eye on the company's performance in the coming quarters.