Deep Energy Resources shows improvement in overall score and half-yearly PAT

Aug 14 2024 04:16 PM IST
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Deep Energy Resources, a microcap company in the oil exploration and refineries industry, reported its financial results for the quarter ending June 2024 on August 14, 2024. Despite a Strong Sell rating from MarketsMojo, the company's overall score has improved from -3 to 2, with a higher half-yearly PAT of Rs 0.30 crore.
Deep Energy Resources, a microcap company in the oil exploration and refineries industry, recently announced its financial results for the quarter ending June 2024. The results, declared on August 14, 2024, have received a "Strong Sell" rating from MarketsMOJO.

Despite a flat financial performance for the quarter, Deep Energy has shown improvement in its overall score, which has increased from -3 to 2 in the last three months. This improvement can be attributed to the company's higher Profit After Tax (PAT) for the half-year period, which stands at Rs 0.30 crore compared to the preceding 12-month period ending June 2024, where it was at Rs -0.01 crore.

This half-yearly PAT already surpasses the company's PAT for the entire previous 12 months, indicating a positive trend for Deep Energy. While the company's financial performance may not be at its peak currently, the increase in its overall score and PAT is a promising sign for its future growth. Investors and industry experts are advised to closely monitor Deep Energy's progress in the coming months.
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