Oricon Enterprises Reports Negative Financial Performance

Oricon Enterprises, a microcap company in the shipping industry, recently declared its financial results for the quarter ended September 2023. According to the analysis by MarketsMOJO, the stock call for Oricon Enterprises is 'Sell'.

In the quarter ended September 2023, Oricon Enterprises saw a decline in its net sales by -35.69% compared to the previous quarter. The consolidated net profit also decreased by -18.02% in the same period. The operating profit (PBDIT) excluding other income also saw a significant decline of -59.17%. However, the interest cost increased by 11.54%, indicating a rise in borrowings.

The operating profit margin (excluding other income) also saw a decline from the previous quarter. Overall, the financial performance of Oricon Enterprises in the quarter ended September 2023 was negative, with a score of -17 compared to -3 in the previous quarter.

Despite the negative performance, there are some positive aspects to note. The profit after tax (PAT) for the quarter was Rs 3.62 crore, showing a growth of 65.6% compared to the average PAT of the previous four quarters. However, the net sales for the quarter were at its lowest in the last five quarters, indicating a negative trend.

The profit before tax (PBT) less other income also saw a significant decline of -129.1% compared to the average PBT of the previous four quarters. The non-operating income for the quarter was 240.92% of the PBT, which may not be a sustainable business model. It is also worth noting that the non-operating income was at its highest in the last five quarters.

In conclusion, Oricon Enterprises has seen a negative financial performance in the quarter ended September 2023. While there are some positive aspects, such as the growth in PAT, the overall trend is negative. Investors should carefully consider these factors before making any investment decisions.