Innovative Tech Pack Announces Q4 2023 Financial Results, Shows Improved Profitability
Innovative Tech Pack, a microcap company in the plastic products industry, recently announced its financial results for the quarter ending December 2023. The results, declared on February 8, 2024, have received a 'Sell' call from MarketsMOJO.
According to the financials, Innovative Tech's performance has remained flat in the last quarter of 2023, with a score of 4 compared to 18 in the previous 3 months. However, there are some positive aspects to the company's financials.
The company's Profit After Tax (PAT) for the half-yearly period is higher at Rs 0.64 crore, compared to the preceding 12-month period ending December 2023, which was at Rs -1.00 crore. This indicates a significant improvement in the company's profitability.
On the other hand, the net sales for the quarter have fallen by -14.00% year on year, standing at Rs 32.68 crore. This is the lowest net sales in the last five quarters, and the near-term sales trend is negative. However, the company has already crossed its PAT for the previous 12 months in just half a year, which could be a positive sign for its future performance.
Overall, while Innovative Tech's financials for the quarter ending December 2023 may not be impressive, the company's profitability has shown improvement. Investors may want to keep an eye on the company's future performance to make informed decisions.
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