India Home Loans Reports Decline in Financial Performance for Q1 2024
India Home Loans, a microcap company in the finance-housing industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, India Home Loans has seen a negative performance in the quarter, with a score of -16 compared to -15 in the previous quarter. This indicates a decline in the company's financial health over the last three months.
One of the major factors contributing to this decline is the net sales, which have decreased by 53.36% year on year, standing at Rs 5.28 crore for the half-yearly period. The near-term sales trend is also negative, indicating a potential struggle for the company in the coming months.
Similarly, the profit after tax (PAT) for the half-yearly period has also decreased by 53.36% year on year, standing at Rs -3.26 crore. This trend is also reflected in the near-term PAT trend, which is negative.
The operating profit (PBDIT) for the quarter is at its lowest in the last five quarters, standing at Rs 0.22 crore. This indicates a negative trend in the company's operating profit in the near term.
Furthermore, the profit before tax less other income (PBT) for the quarter is also at its lowest in the last five quarters, standing at Rs -2.05 crore. This trend is also negative, indicating a potential struggle for the company in terms of profitability.
The earnings per share (EPS) for the quarter is also at its lowest in the last five quarters, standing at Rs -1.48. This indicates a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 show a negative trend for India Home Loans. Investors should carefully consider these factors before making any investment decisions.
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