Kinetic Engineering Reports Decline in Financial Performance for Q1 2024
Kinetic Engineering, a microcap company in the auto ancillary 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, Kinetic Engineering has seen a negative performance in the quarter, with a score of -8 compared to 0 in the previous quarter. This indicates a decline in the company's financial health.
One of the major factors contributing to this decline is the Profit After Tax (PAT) for the half-yearly period, which has decreased by 55.13% year on year. The near-term trend for PAT is also negative. Additionally, the company's interest cost has increased significantly by 100,999,900.00% quarter on quarter, indicating a rise in borrowings.
Furthermore, the company's Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, at Rs 0.23. This decline in profitability has resulted in lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Kinetic Engineering. Investors are advised to take note of these factors before making any investment decisions.
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