Forbes & Company Reports Mixed Financial Results for Q1 2024
Forbes & Company, a microcap industrial equipment company, has recently announced 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, Forbes & Co has seen a negative performance in the quarter, with a score of -9 compared to -3 in the previous quarter. However, there are some positive aspects to the company's performance.
The net sales for the quarter have shown a growth of 43.4% at Rs 87.08 crore, which is higher than the average net sales of the previous four quarters at Rs 60.71 crore. This indicates a positive trend in the company's sales.
On the other hand, the profit before tax (PBT) has fallen by -26.2% at Rs 2.27 crore, compared to the average PBT of the previous four quarters at Rs 3.08 crore. The same trend is seen in the profit after tax (PAT), which has fallen by -12.3% at Rs 6.91 crore, compared to the average PAT of Rs 7.88 crore in the previous four quarters.
One concerning aspect of the company's financials is the high non-operating income, which accounts for 52.31% of the PBT. This indicates that the company's income from non-business activities is high, which may not be a sustainable business model.
Overall, Forbes & Company's financial performance for the quarter ending March 2024 has been mixed, with some positive and negative trends. Investors are advised to carefully consider these factors before making any investment decisions.
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