Mangal Credit & Fincorp Reports Record High Net Sales and Profit Growth in Q1 2024

Mangal Credit & Fincorp, a microcap finance company, has recently announced its financial results for the quarter ended March 2024. The company has shown a positive performance in this quarter, with its score improving from 21 to 16 in the last three months.

One of the key highlights of the financials is the net sales, which have reached a record high of Rs 9.43 crore and have shown consistent growth in the last five quarters. This indicates a very positive trend in the company's sales in the near term.

Another positive aspect is the operating profit (PBDIT), which has also reached its highest at Rs 6.46 crore and has shown growth in each of the last five quarters. This indicates a positive trend in the company's operating profit in the near term.

The profit after tax (PAT) for the half-yearly period stands at Rs 5.45 crore, showing a growth of 26.74% year on year. This indicates a positive trend in the company's profitability in the near term.

Moreover, the net sales for the quarter have grown at a rate of 24.4% over the average net sales of the previous four quarters, which were at Rs 7.58 crore. This further reinforces the positive sales trend for Mangal Credit & Fincorp in the near term.

Based on these financial results, MarketsMOJO has given a 'Sell' call for the company's stock. However, it is important to note that this is not a recommendation and is solely based on the financial data of the company. Investors are advised to do their own research and analysis before making any investment decisions.