Gorani Industries Reports Strong Financial Results for Q1 2024, Showing Positive Growth and Improved Scores
Gorani Industries, a microcap company in the domestic appliances industry, has recently announced its financial results for the quarter ending March 2024. The results, declared on May 30, have received a 'Strong Sell' call from MarketsMOJO.Despite the negative outlook from MarketsMOJO, Gorani Industries has shown a flat financial performance for the quarter. However, there has been a significant improvement in the company's score, which has increased from -3 to 5 in the last three months.
One of the key factors contributing to this improvement is the growth in net sales, which have increased by 20.0% to Rs 11.60 crore compared to the average net sales of the previous four quarters at Rs 9.67 crore. This indicates a positive trend in the company's sales in the near term.
Furthermore, Gorani Industries has also shown a positive trend in its operating profit (PBDIT), which is at its highest in the last five quarters at Rs 1.05 crore. The same can be seen in the profit before tax less other income (PBT) and profit after tax (PAT), which are also at their highest in the last five quarters at Rs 0.66 crore and Rs 0.58 crore respectively. This indicates a positive trend in the company's profitability in the near term.
Moreover, the earnings per share (EPS) have also increased to its highest in the last five quarters at Rs 1.08, showcasing the company's ability to generate higher earnings for its shareholders.
Overall, despite the 'Strong Sell' call from MarketsMOJO, Gorani Industries has shown promising financial results for the quarter ending March 2024, with positive trends in key financial indicators.
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