Flomic Global Logistics Reports Strong Financial Performance in Q3 2024
Flomic Global Logistics, a microcap finance company, has recently announced its financial results for the quarter ending September 2024. The company has shown a positive performance in this quarter, with a significant improvement in its financial score from 3 to 19 in the last 3 months.
According to the financial report, Flomic Global's Profit After Tax (PAT) for the quarter was Rs 1.19 crore, which is a growth of 610.4% compared to the average PAT of the previous four quarters. This indicates a very positive trend in the company's near-term profitability. The company's Net Sales for the quarter were also at its highest at Rs 136.51 crore, with a growth of 45.7% compared to the average Net Sales of the previous four quarters. This shows a strong and consistent growth in the company's sales performance.
Flomic Global's Operating Profit (PBDIT) for the quarter was also at its highest at Rs 10.71 crore, indicating a positive trend in the company's near-term profitability. However, the company's Non-Operating Income for the quarter was 66.46% of its Profit Before Tax (PBT), which raises concerns about the sustainability of the company's business model.
Despite this, Flomic Global's financial performance for the quarter has been deemed as a 'Strong Sell' by MarketsMOJO. This suggests that investors should exercise caution while considering investing in the company's stock. Overall, Flomic Global has shown a positive financial performance in the quarter ending September 2024, with strong growth in its PAT and Net Sales. However, the high dependence on non-business income raises concerns about the company's long-term sustainability.
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