IOL Chemicals & Pharmaceuticals Reports Negative Financial Results for Q1 2024
IOL Chemicals & Pharmaceuticals, a smallcap company in the chemicals industry, has recently declared its financial results for the quarter ending June 2024. The company's performance for this quarter has been negative, with a decline in net sales, profit before tax, and profit after tax. This trend has remained consistent for the past three months.
According to the financial data, IOL Chemicals' net sales for the quarter were at its lowest at Rs 502.38 crore, with a decline in each of the last five quarters. This indicates a very negative trend in the company's near-term sales performance. Similarly, the profit before tax (PBT) for the quarter was at Rs 32.14 crore, which is a 15.2% decrease from the average PBT of the previous four quarters. The profit after tax (PAT) for the quarter was also down by 10.8% from the average PAT of the previous four quarters.
The overall net sales for the quarter have also seen a decline of 5.8% from the average net sales of the previous four quarters. This further confirms the negative trend in the company's near-term sales performance.
Based on these financial results, MarketsMOJO has given a 'Sell' call for IOL Chemicals' stock. The company's financial performance for the quarter ending June 2024 has not been favorable, and investors may want to consider this before making any investment decisions.
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