Global Offshore Services Sees Negative Performance in Q2, Receives 'Sell' Call from MarketsMOJO
Global Offshore Services, a microcap company in the shipping industry, recently announced its financial results for the quarter ending September 2024. The results, declared on October 30, 2024, have received a 'Sell' call from MarketsMOJO.
According to the financial report, Global Offshore has seen a negative performance in the second quarter of the fiscal year 2024-2025. The company's score has fallen from -11 to -16 in the last three months.
The financials for the quarter have revealed some concerning trends for Global Offshore. The net sales for the quarter, at Rs 7.26 crore, have fallen by 32.47% year on year, indicating a very negative sales trend in the near term. Similarly, the profit before tax less other income (PBT) has also seen a significant decline of 284.48% year on year, standing at Rs -2.23 crore. The near term trend for PBT is also very negative. The half-yearly profit after tax (PAT) has grown at a negative rate of 33.63% year on year, with a total of Rs -4.17 crore. The net sales for the quarter, at Rs 7.26 crore, are the lowest in the last five quarters, further highlighting the negative sales trend in the near term.
Based on these financials, MarketsMOJO has given a 'Sell' call for Global Offshore. The company will need to address these concerning trends and make strategic changes to improve its performance in the future.
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