GTN Industries Reports Decline in Financial Performance for Q4 2023
GTN Industries, a microcap textile company, recently announced its financial results for the quarter ending December 2023. The company's stock has been given a 'Strong Sell' call by MarketsMOJO.
According to the financial report, GTN Industries has seen a negative performance in the quarter, with a score of -11, which has improved from -13 in the last three months. This indicates a decline in the company's financial health.
One of the major factors contributing to this decline is the net sales, which have decreased by 46.29% year on year, standing at Rs 145.06 crore. The near-term sales trend for the company is also negative.
Another concerning aspect is the Profit After Tax (PAT) for the quarter, which has fallen by 18.5% compared to the average PAT of the previous four quarters. This quarter, the PAT stands at Rs -1.92 crore, while the average for the previous four quarters was Rs -1.62 crore. This indicates a negative trend in the company's profitability.
Additionally, the Debtors Turnover Ratio for the company has also decreased, standing at 9.40 times in the last five half-yearly periods. This indicates that the company's pace of settling its debtors has slowed down.
Overall, the financial results for the quarter ending December 2023 have not been favorable for GTN Industries. Investors should take note of these numbers and make informed decisions regarding their investments in the company.
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