Novartis India's Q1 financials show mixed results, with 'Hold' call from MarketsMOJO
Novartis India, a smallcap pharmaceutical company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financials, Novartis India's Profit Before Tax (PBT) has shown a significant growth of 57.20% Year on Year (YoY), reaching Rs 10.91 crore. This is a positive trend for the company in the near term.
However, the company's Profit After Tax (PAT) has fallen by -41.3% YoY, standing at Rs 14.68 crore. This is a concerning trend for the company's profitability in the near term. Additionally, the company's Non Operating Income is 48.85% of its PBT, indicating a high reliance on non-business activities for income.
Furthermore, Novartis India's Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, standing at Rs 5.95. This decline in profitability is not favorable for the company's shareholders.
Overall, Novartis India's financial performance for the quarter ending March 2024 has been flat, with a score of 1 out of 14. Investors are advised to hold their positions in the company's stock, as per MarketsMOJO's recommendation.
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