Data Patterns (India) Reports Strong Financial Performance in Q1 2024, Receives 'Buy' Call from MarketsMOJO.
Data Patterns (India), a midcap IT software company, has recently announced its financial results for the quarter ending March 2024. The company has received a 'Buy' call from MarketsMOJO, indicating positive prospects for investors.
According to the financials, Data Patterns has shown a significant improvement in its performance with a score of 14, up from 13 in the last quarter. The company's Profit Before Tax (PBT) has grown by 83.1% to Rs 83.04 crore, compared to the average PBT of the previous four quarters at Rs 45.36 crore. This trend is expected to continue in the near future.
Data Patterns has also shown a strong ability to manage its interest payments with an Operating Profit to Interest ratio of 30.70 times, the highest in the last five quarters. The company's Profit After Tax (PAT) has also seen a growth of 71.4% to Rs 71.10 crore, compared to the average PAT of the previous four quarters at Rs 41.49 crore. This indicates a positive trend in the near term.
The company's Net Sales have also seen a growth of 39.5% to Rs 182.29 crore, compared to the average Net Sales of the previous four quarters at Rs 130.65 crore. This shows a positive trend in the company's sales performance.
Data Patterns has also shown a strong Operating Profit (PBDIT) of Rs 93.02 crore, the highest in the last five quarters. The company's Operating Profit Margin has also improved to 51.03%, indicating increased efficiency.
The company's Earnings per Share (EPS) have also seen a significant growth to Rs 12.70, the highest in the last five quarters. This shows an increasing profitability and higher earnings for shareholders.
However, there are some areas that need improvement for Data Patterns. The company's interest cost has increased by 30.60% quarter on quarter, indicating increased borrowings. The Non-Operating Income has also seen a significant increase to Rs 12.28 crore, which may not be sustainable in the long run.
Overall, Data Patterns has shown a positive and strong financial performance in the quarter ending March 2024. With a 'Buy' call from MarketsMOJO, the company is expected to continue its growth and create higher earnings for its shareholders.
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