Mefcom Capital's Q1 2024 Results Show Strong Sales Growth, But Decline in Profits
Mefcom Capital Markets, a microcap finance company, recently announced its financial results for the quarter ending March 2024. The results have been declared on May 29, 2024 and have received a 'Strong Sell' rating from MarketsMOJO.Despite the negative rating, Mefcom Capital has shown a very positive financial performance in the quarter. The company's score has fallen from 36 to 25 in the last three months, indicating a significant improvement.
One of the key factors contributing to this positive performance is the company's net sales, which have grown by 140% to Rs 90.65 crore in the quarter. This is a significant increase compared to the average net sales of the previous four quarters, which stood at Rs 37.78 crore. The trend for net sales in the near term is also very positive.
Moreover, Mefcom Capital's net sales for the quarter are the highest in the last five quarters, and have shown growth in each quarter. This further highlights the company's strong sales performance.
However, the company's profit after tax (PAT) for the quarter has fallen by -11.1% to Rs 1.10 crore, compared to the average PAT of the previous four quarters, which was Rs 1.24 crore. The near term trend for PAT is also negative.
Overall, Mefcom Capital's financial results for the quarter ending March 2024 have shown a mixed performance, with strong sales growth but a decline in profits. Investors should carefully consider these factors before making any investment decisions.
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