Jet Freight Logistics reports strong financial growth in Q1 2024, with some areas for improvement

Jet Freight Logistics, a microcap logistics company, has recently announced its financial results for the quarter ending March 2024. The company has shown positive growth in its financial performance, with a score of 18 out of 100, compared to 11 in the previous quarter.

One of the key highlights of the quarter was the Profit Before Tax (PBT) which has grown by 143.12% year on year, reaching Rs 1.41 crore. This shows a very positive trend in the near term for the company. Similarly, the Profit After Tax (PAT) has also shown a growth of 134.4% year on year, reaching Rs 1.06 crore. This indicates a positive trend in the near term for the company.

Another positive aspect of Jet Freight's financials is the Operating Profit to Interest ratio, which has reached its highest at 2.33 times in the last five quarters. This shows the company's ability to manage its interest payments is improving. The Net Sales for the quarter have also shown a positive trend, reaching its highest at Rs 147.28 crore. This is a growth of 26.20% year on year, indicating a positive trend in the near term.

On the other hand, there are some areas that need improvement for Jet Freight. The Interest cost has increased by 24.54% over the previous half-yearly period, indicating increased borrowings. The Debtors Turnover Ratio has also slowed down, reaching its lowest at 5.82 times in the last five half-yearly periods. This shows a slower pace in settling the company's debtors.

Overall, Jet Freight Logistics has shown positive growth in its financial performance for the quarter ending March 2024. However, there are some areas that need improvement, and the stock has been given a 'Hold' call by MarketsMOJO. Investors are advised to keep a close eye on the company's financials and performance in the coming quarters.