Network 18 Media & Investments Reports Negative Financial Results for Q1 2024
Network 18 Media & Investments, a midcap company in the TV broadcasting and software industry, recently announced its financial results for the quarter ending March 2024. The stock has been given a 'Strong Sell' call by MarketsMOJO.
According to the financials, the company has seen a negative performance in the quarter, with a score of -9 compared to -3 in the previous quarter. However, there are some positive aspects to note.
Net sales for the quarter were at Rs 2,419.28 crore, showing a growth of 63.06% year on year. This indicates a very positive sales trend in the near term.
On the other hand, there are some areas that are not performing well for Network 18 Media based on the March 2024 financials. The profit before tax less other income (PBT) for the quarter was at Rs -357.66 crore, showing a decline of -688.67% year on year. The profit after tax (PAT) also saw a decline of -160.9% year on year, at Rs -95.95 crore.
The interest cost for the quarter was at Rs 114.08 crore, showing a growth of 54.45% quarter on quarter. This signifies increased borrowings for the company. In fact, this is the highest interest cost in the last five quarters, with a significant increase of 54.45% quarter on quarter.
The PBT for the quarter was at its lowest in the last five quarters, at Rs -357.66 crore. This indicates a negative trend in the near term. The earnings per share (EPS) for the quarter were also at its lowest in the last five quarters, at Rs -0.93. This shows a decline in profitability and lower earnings for shareholders.
Overall, the financial results for Network 18 Media & Investments for the quarter ending March 2024 have been negative, with some concerning trends. Investors should carefully consider these factors before making any decisions regarding the company's stock.
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