Oricon Enterprises Reports Negative Performance in Q1 2024 Financial Results

Oricon Enterprises, a microcap company in the shipping industry, recently declared its financial results for the quarter ending March 2024. According to the report, the company has seen a very negative performance with a score of -23, a significant decrease from -11 in the previous quarter.

Despite this, there are some positive aspects to Oricon Enterprises' financials. The company's earnings per share (EPS) for the quarter were the highest in the last five quarters at Rs 0.85, indicating an increase in profitability and higher earnings for shareholders.

However, there are also several areas of concern for the company. The net sales for the quarter were at Rs 31.37 crore, a decrease of 72.1% from the average net sales of the previous four quarters. This indicates a very negative trend in sales in the near term.

The profit before tax less other income (PBT) for the quarter was at Rs -24.74 crore, a decrease of 542.2% from the average PBT of the previous four quarters. This also shows a very negative trend in the near term.

Additionally, the company's operating profit to interest ratio was at its lowest in the last five quarters, indicating a deteriorating ability to manage interest payments. The interest cost for the quarter was also at its highest in the last five quarters, showing an increase of 20.55% from the previous quarter.

The operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, and the operating profit margin was also at its lowest at -30.00%. The profit after tax (PAT) for the quarter was at Rs 2.58 crore, a decrease of 7.8% from the average PAT of the previous four quarters.

On a positive note, the company's non-operating income for the quarter was at its highest in the last five quarters at Rs 10.70 crore. However, this increase in income from non-business activities may not be sustainable.

In conclusion, Oricon Enterprises' financial results for the quarter ending March 2024 have been declared as very negative, with a 'Strong Sell' stock call by MarketsMOJO. The company's sales, profitability, and ability to manage interest payments have all shown a negative trend in the near term.