Mirza International's Q1 Financial Results Show Negative Performance and Decline in Health

Mirza International, a microcap company in the consumer durables industry, recently declared its financial results for the quarter ending March 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.

According to the financials, Mirza International has seen a very negative performance in the quarter, with a score of -28, which has improved from -32 in the last 3 months. This indicates a decline in the company's financial health.

One of the major factors contributing to this decline is the Profit Before Tax (PBT) less Other Income, which has fallen by 55.2% to Rs 0.89 crore compared to the average PBT of the previous four quarters, which was Rs 1.99 crore. This shows a very negative trend in the near term.

Similarly, the Profit After Tax (PAT) has also seen a significant decline of 63.8% to Rs 1.19 crore compared to the average PAT of the previous four quarters, which was Rs 3.29 crore. This indicates a very negative trend in the near term.

In terms of sales, Mirza International has seen a decline of 60.69% in the half-yearly net sales, which stood at Rs 294.10 crore. This shows a very negative trend in the near term.

Another concerning aspect is the increase in interest cost, which has grown by 69.41% in the half-yearly period to Rs 7.42 crore. This signifies increased borrowings by the company.

Overall, the financial results for the quarter ending March 2024 do not paint a positive picture for Mirza International. Investors should carefully consider these factors before making any investment decisions.