Deep Diamond India's Q3 Financial Results Mixed
Deep Diamond India, a microcap company in the jewellery industry, recently announced its financial results for the quarter ended September 2023. The company's net sales showed a significant growth of 196.67% quarter-on-quarter, compared to a decline of 85.51% in the previous quarter. However, the standalone net profit saw a decline of 305.88% in the same period, as opposed to a growth of 950.00% in the previous quarter.
The company's operating profit (PBDIT) excluding other income also saw a sharp decline of 825.00% quarter-on-quarter, compared to a decline of 11.11% in the previous quarter. Additionally, the interest expenses also saw a decline of 75.00% quarter-on-quarter, compared to a growth of 200.00% in the previous quarter. The operating profit margin (excluding other income) also saw a decline from the previous quarter.
Despite the flat financial performance in the quarter, Deep Diamond has shown positive trends in its operating cash flow. The company has consistently generated higher cash revenues from its business operations, with the highest annual operating cash flow of Rs 2.02 crore in the last three years.
However, there are some areas of concern for Deep Diamond based on its September 2023 financials. The profit before tax (PBT) less other income has fallen by 248.78% year-on-year, with a negative trend in the near term. The operating profit (PBDIT) and PBT have also seen a decline in the last five quarters, with a negative trend in the near term. The earnings per share (EPS) have also declined, indicating lower profitability and earnings for shareholders.
Overall, Deep Diamond's financial performance in the quarter ended September 2023 has been mixed, with some positive and negative trends. Investors should carefully consider these factors before making any investment decisions.
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