Odyssey Technologies Reports Positive Growth in Q1 2024 Financial Results

Odyssey Technologies, a microcap IT software company, has recently announced its financial results for the quarter ending March 2024. The company has shown positive growth in its financial performance, with a score of 17 compared to 0 in the previous quarter.

One of the key factors contributing to this growth is the increase in Profit Before Tax (PBT) less Other Income, which has grown by 382.4% to Rs 3.69 crore compared to the average PBT of the previous four quarters at Rs 0.77 crore. This trend is expected to continue in the near term.

Similarly, the Profit After Tax (PAT) has also shown a significant increase of 217.4% to Rs 3.19 crore compared to the average PAT of the previous four quarters at Rs 1.01 crore. This indicates a positive trend in the company's profitability.

The Net Sales for the quarter have also seen a growth of 48.8% to Rs 9.29 crore compared to the average Net Sales of the previous four quarters at Rs 6.24 crore. This is the highest net sales in the last five quarters, showing a positive trend in the company's sales performance.

In terms of operating profit, Odyssey Technologies has recorded its highest Operating Profit (PBDIT) of Rs 4.29 crore in the last five quarters. The Operating Profit Margin has also shown improvement, reaching its highest at 46.18%. This indicates an increase in the company's efficiency.

Overall, the company's financial performance for the quarter ending March 2024 has been positive, with an increase in key metrics such as PBT, PAT, Net Sales, and Operating Profit. This has resulted in a higher Earnings per Share (EPS) of Rs 2.02, indicating that the company has created higher earnings for its shareholders. Based on these results, MarketsMOJO has given a 'Hold' call for Odyssey Technologies' stock.