COSCO (India) Reports Strong Financial Results for Q1 2024, Despite 'Sell' Call from MarketsMOJO
COSCO (India), a microcap company in the leather industry, has recently announced its financial results for the quarter ended March 2024. According to the data released on May 30, 2024, the company has shown positive performance in this quarter. However, MarketsMOJO has given a 'Sell' call for the stock.In the last three months, COSCO (India) has seen a decline in its score from 17 to 12. Despite this, the company has some positive factors working in its favor based on the March 2024 financials. The Profit After Tax (PAT) for the half-yearly period has shown a significant growth of 270.37% compared to the same period last year. This trend is highly positive for the company.
Moreover, the PAT for the half-yearly period is higher at Rs 2.00 crore compared to the preceding 12-month period ended March 2024, which was Rs 1.74 crore. This indicates that in just six months, the company has already surpassed its PAT for the entire previous year.
In terms of net sales, COSCO (India) has recorded its highest figure of Rs 49.19 crore in the last five quarters. This shows a positive trend in the near term for the company's sales.
Overall, COSCO (India) has shown promising financial results for the quarter ended March 2024. However, investors should take note of the 'Sell' call given by MarketsMOJO and make informed decisions based on their own research and analysis.
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