HUDCO's Q1 financials show strong sales and profit growth, stock rated 'Hold'.
Housing & Urban Development Corporation (HUDCO), a largecap finance company in the housing industry, has recently declared its financial results for the quarter ending March 2024. According to the latest update, the stock call for HUDCO by MarketsMOJO is 'Hold'.HUDCO has shown a positive financial performance in the quarter ending June 2024. The company's score has fallen from 8 to 7 in the last three months, indicating a slight decline in its overall performance.
However, there are some key highlights from the Jun 2024 financials that are working in favor of HUDCO. The company's net sales for the quarter were the highest at Rs 2,188.35 crore and have shown growth in each of the last five quarters. This indicates a very positive sales trend in the near term.
HUDCO's operating profit (PBDIT) for the quarter was also the highest at Rs 2,141.51 crore and has shown growth in each of the last five quarters. This indicates a positive trend in the company's operating profit in the near term.
The company's profit after tax (PAT) for the quarter was Rs 557.75 crore, showing a growth of 25.2% year on year (YoY). This indicates a positive trend in the near term for the company's profitability.
Overall, HUDCO has shown a positive financial performance in the quarter ending June 2024. However, it is important to note that this is not a recommendation and investors should do their own research before making any investment decisions.
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