Duke Offshore Declares Financial Results for March Quarter, Profit After Tax Higher

Despite the challenging financial performance, Duke Offshore, a microcap company in the oil exploration and refineries industry, has declared its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.

According to the financial report, Duke Offshore's profit after tax (PAT) for the half-yearly period was higher at Rs 0.30 crore compared to the previous 12 months. This indicates a positive trend for the company.

However, there are some areas of concern for Duke Offshore. The profit before tax less other income (PBT) for the quarter has fallen by -378.79% year on year, and the operating profit (PBDIT) for the quarter is at its lowest in the last five quarters. The company's cash and cash equivalents have also decreased, indicating a deteriorating short-term liquidity.

Despite these challenges, Duke Offshore remains committed to its operations in the oil exploration and refineries industry. The company will continue to work towards improving its financial performance in the upcoming quarters. Investors are advised to carefully monitor the company's progress before making any investment decisions.