Innovative Tech Pack Announces Q1 Financial Results, Receives 'Sell' Call from MarketsMOJO
Innovative Tech Pack, a microcap company in the plastic products industry, recently announced its financial results for the quarter ending March 2024. The results, declared on August 14, 2024, have received a 'Sell' call from MarketsMOJO.The company's financial performance for the quarter has remained flat, with a score of 3 compared to -1 in the previous three months. However, there are some positive aspects to note from the financials.
Innovative Tech's operating profit (PBDIT) for the quarter was the highest in the last five quarters, at Rs 4.16 crore. The company's operating profit margin has also improved, reaching its highest at 12.19%. This indicates an increase in efficiency.
The profit before tax (PBT) less other income for the quarter was also the highest in the last five quarters, at Rs 1.43 crore. The profit after tax (PAT) for the quarter was also the highest in the last five quarters, at Rs 1.51 crore. This shows a positive trend in the company's profitability.
The earnings per share (EPS) for the quarter was the highest in the last five quarters, at Rs 0.67. This indicates that the company has been able to generate higher earnings for its shareholders.
However, there are some areas of concern in the financials. The net sales for the quarter were at Rs 34.12 crore, showing a decline of -10.02% year on year. The near term sales trend is also negative.
Overall, while there are some positive aspects to note from Innovative Tech's financial results, the company's sales trend and the 'Sell' call from MarketsMOJO may be cause for concern for investors.
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