Jayaswal Neco Industries Reports Mixed Financial Results for Q1 2024
Jayaswal Neco Industries, a midcap company in the iron and steel industry, recently announced its financial results for the quarter ending March 2024. According to the data released on April 30, 2024, the company's stock has been given a 'Hold' call by MarketsMOJO.
The financial performance of Jayaswal Neco for the quarter has remained flat, with a slight improvement in its score from -9 to -5 in the last three months. However, there are some positive aspects to the company's financials.
The Profit Before Tax less Other Income (PBT) for the quarter has shown a significant growth of 147.72% year on year, standing at Rs 23.36 crore. The near-term trend for PBT is also very positive. Similarly, the Profit After Tax (PAT) has grown by 21.1% year on year, with a positive near-term trend.
On the other hand, there are some areas that need improvement for Jayaswal Neco. The Operating Profit to Interest ratio for the quarter is at its lowest in the last five quarters, indicating a deteriorating ability to manage interest payments. The Net Sales for the quarter are also at their lowest in the last five quarters, with a negative near-term trend. The company's interest cost has also increased by 23.78% quarter on quarter, signifying increased borrowings. Additionally, the Earnings per Share (EPS) for the quarter are at their lowest in the last five quarters, showing a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 for Jayaswal Neco Industries have been mixed, with some positive and negative aspects. Investors are advised to hold their stock and keep an eye on the company's performance in the coming quarters.
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