LGB Forge Reports Mixed Financial Results for Q1 2024, with Some Positive and Negative Trends
LGB Forge, a microcap company in the castings/forgings industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, LGB Forge has seen a negative performance in the quarter, with a score of -6 compared to -3 in the previous quarter. However, there are some positive aspects to the company's financials. The Profit Before Tax less Other Income (PBT) for the quarter was the highest in the last five quarters at Rs -1.74 crore, and the near-term trend for PBT is positive.
On the other hand, there are some areas of concern for LGB Forge. The Net Sales for the quarter were at Rs 19.81 crore, which is a decrease of -32.7% compared to the average Net Sales of the previous four quarters. The near-term trend for sales is also negative, with the lowest sales in the last five quarters. The Operating Profit (PBDIT) for the quarter was also the lowest in the last five quarters at Rs -1.19 crore, and the near-term trend for operating profit is negative. The Operating Profit Margin for the quarter was also the lowest in the last five quarters at -6.01%, indicating a decline in the company's efficiency. The Earnings per Share (EPS) for the quarter were also the lowest in the last five quarters at Rs -0.14, showing a decline in profitability and lower earnings for shareholders.
Overall, LGB Forge's financial performance for the quarter ending March 2024 has been negative, with some positive and negative aspects. Investors should carefully consider these factors before making any decisions regarding the company's stock.
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