Incredible Industries Reports Strong Financial Results for Q1 2024
Incredible Industries, a microcap company in the iron and steel industry, has recently announced its financial results for the quarter ending March 2024. According to the report released on May 27, 2024, the company has shown positive performance in this quarter with a score of 11, a significant improvement from 0 in the previous three months.The company's Profit Before Tax less Other Income (PBT) for the quarter has grown by 203.1% to Rs 5.07 crore, compared to the average PBT of Rs 1.67 crore in the previous four quarters. This indicates a very positive trend in the near term for PBT. Similarly, the Profit After Tax (PAT) for the quarter has also shown a growth of 116.7% to Rs 3.12 crore, compared to the average PAT of Rs 1.44 crore in the previous four quarters.
In terms of operating profit, Incredible Industries has recorded its highest PBDIT (Profit Before Depreciation, Interest, and Taxes) of Rs 7.65 crore in the last five quarters, indicating a positive trend in the near term. The company's operating profit margin has also improved, reaching its highest at 3.44% in the last five quarters, showcasing an increase in efficiency.
The company's PBT and PAT for the quarter have also reached their highest at Rs 5.07 crore and Rs 3.12 crore, respectively, in the last five quarters, further highlighting the positive trend in the near term. Additionally, the company's Earnings per Share (EPS) for the quarter have also shown an increase, reaching its highest at Rs 0.67 in the last five quarters, indicating a higher profitability and value creation for shareholders.
Based on these financial results, MarketsMOJO has given a 'Hold' call for Incredible Industries' stock. With its positive performance in the quarter ending March 2024, the company is on track to achieve its financial goals and continue its growth in the iron and steel industry.
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