Glittek Granites Reports Negative Financial Results, MarketsMOJO Gives 'Strong Sell' Call

Despite being a player in the ceramics and allied industry, Glittek Granites, a microcap company, has recently reported negative financial results for the quarter ending March 2024. The company's score has fallen from -5 to -12 in the last three months, indicating a decline in performance.

According to the financial report released on May 30, 2024, Glittek Granites has seen a significant decrease in its Profit Before Tax (PBT) and Profit After Tax (PAT) compared to the previous four quarters. The PBT has fallen by 222% to Rs -2.52 crore, while the PAT has fallen by 381.9% to Rs -3.06 crore. This trend is expected to continue in the near term, as indicated by the negative PBT and PAT trends.

Furthermore, the company's Operating Profit (PBDIT) has also been on a downward trend, with the lowest reported at Rs -2.05 crore in the last five quarters. The same can be said for the PAT, which has also been declining each quarter in the last five quarters.

The company's Earnings per Share (EPS) have also been affected, with the lowest reported at Rs -1.15 in the last five quarters. This indicates a decline in profitability and lower earnings for shareholders.

Based on these financial results, MarketsMOJO has given a 'Strong Sell' call for Glittek Granites' stock. The company's performance in the ceramics and allied industry has not been favorable, and investors are advised to exercise caution before making any investment decisions.