Kenvi Jewels Reports Mixed Results for Q1 FY25, PAT Increases but Net Sales Decline
Kenvi Jewels, a microcap company in the jewellery industry, has recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Strong Sell’ call by MarketsMOJO.
According to the financial report, Kenvi Jewels has seen a flat performance in the quarter, with a score of 3 out of 13, which is a decrease from the previous quarter. However, there are some positive aspects to the company’s financials. The Profit After Tax (PAT) for the nine-month period is higher at Rs 0.83 crore compared to the previous 12-month period of Rs 0.65 crore. This indicates that the company has already surpassed its sales from the previous year in just nine months.
On the other hand, there are also some areas of concern for Kenvi Jewels. The net sales for the quarter have fallen by -10.07% year on year, with a total of Rs 23.40 crore. This is the lowest sales figure in the last five quarters, and the near-term sales trend is also negative.
Despite these challenges, Kenvi Jewels remains a strong player in the jewellery industry, with potential for growth and improvement in the future. Investors and experts are advised to carefully monitor the company’s performance in the coming quarters.
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