Energy Development Company Reports Strong Financial Performance in Q2 2024
Energy Development Company, a microcap power generation and distribution company, has recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.According to the financial report, Energy Development Company has shown a very positive performance in the second quarter of the fiscal year 2024-2025. The company's score has improved from -2 to 26 in the last three months.
The company's profit before tax (PBT) less other income has grown by 142.74% year on year, reaching Rs 6.02 crore. The near-term trend for PBT is also very positive. Similarly, the profit after tax (PAT) has also shown a significant growth of 122.8% year on year, reaching Rs 6.55 crore. The near-term trend for PAT is also positive.
Energy Development Company has also shown a strong ability to manage interest payments, with the operating profit to interest ratio being the highest in the last five quarters at 4.61 times. The company's net sales for the quarter were at Rs 15.09 crore, the highest in the last five quarters, and have shown a growth of 36.81% year on year. The near-term trend for sales is also positive.
The company's operating profit (PBDIT) for the quarter was at its highest in the last five quarters at Rs 10.98 crore, and the operating profit margin was also the highest at 72.76%. This indicates an improvement in the company's efficiency.
Overall, Energy Development Company has shown a strong financial performance in the quarter ending September 2024, with positive trends in key areas such as PBT, PAT, net sales, and operating profit. This has resulted in a higher earnings per share of Rs 1.38, indicating increasing profitability and value for shareholders.
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