Hitech Corporation Reports Mixed Financial Results for Q1 FY25, Investors Advised to Hold Stock

Hitech Corporation, a microcap company in the packaging industry, recently announced its financial results for the quarter ending March 2024. The results, declared on August 8, 2024, have received a ‘Hold’ call from MarketsMOJO.

The company’s financial performance for the quarter has been negative, with a score of -12 compared to 1 in the previous quarter. However, there are some positive aspects to note from the Jun 2024 financials.

Hitech Corp. has shown a strong dividend per share (DPS) of Rs 1.00 annually, which is the highest in the last five years. This indicates that the company is distributing higher dividends from its profits.

On the other hand, there are some areas of concern based on the Jun 2024 financials. The profit before tax (PBT) less other income has fallen by 49.6% compared to the average PBT of the previous four quarters. The trend for near term PBT is also negative. Similarly, the profit after tax (PAT) has fallen by 37.0% compared to the average PAT of the previous four quarters. The trend for near term PAT is also negative.

Another concerning aspect is the company’s operating cash flow, which has been falling each year in the last three years and is currently at its lowest at Rs 54.57 Cr. This indicates that the company’s cash revenues from business operations are declining.

Overall, Hitech Corporation’s financial results for the quarter ending March 2024 have been negative, with some positive and negative aspects to consider. Investors are advised to hold their stock and closely monitor the company’s performance in the near future.