Kanoria Energy & Infrastructure Reports Decline in Financial Performance for Q1 2024
Kanoria Energy & Infrastructure, a microcap company in the cement industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Kanoria Energy has seen a negative performance in the quarter, with a score of -11 compared to -7 in the previous quarter. This indicates a decline in the company's overall financial health.
One of the major factors contributing to this decline is the Profit After Tax (PAT), which has shown a significant decrease of -61.28% year on year. The net sales for the quarter have also fallen by -14.43% year on year, indicating a negative trend in the company's sales performance.
Another concerning aspect is the increase in interest costs, which have reached a five-quarter high of Rs 3.74 crore and have risen by 12.65% quarter on quarter. This suggests that the company has taken on more borrowings, which could impact its financial stability.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Kanoria Energy & Infrastructure. Investors are advised to take note of the negative trends and consider the 'Sell' call given by MarketsMOJO.
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