Nitta Gelatin India's Q3 financials show flat performance, cash reserves reach six-year high

Nitta Gelatin India, a microcap company in the chemicals industry, recently announced its financial results for the quarter ending December 2023. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, Nitta Gelatin's performance for the quarter has remained flat, with a score of 4 out of 10. This is a decrease from the previous quarter's score of 9. However, there are some positive aspects to the company's financials.

One of the highlights is the company's cash and cash equivalents, which have reached a six-year high of Rs 38.52 crore in the last six half-yearly periods. This indicates an improvement in short-term liquidity for Nitta Gelatin.

On the other hand, the company's profit after tax (PAT) for the quarter has fallen by 11.6% compared to the average PAT of the previous four quarters. This is a concerning trend for Nitta Gelatin in the near term.

Despite the mixed financial results, MarketsMOJO has given a 'Hold' call for Nitta Gelatin's stock. Investors are advised to carefully monitor the company's performance in the coming quarters before making any investment decisions.