Orient Electric Announces Q1 Financial Results, Net Sales Reach 5-Quarter High
Orient Electric, a smallcap company in the consumer electronics industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financials, Orient Electric has seen a negative performance in the quarter, with a score of -11 compared to 2 in the previous quarter. However, there are some positive aspects to the company's performance. The net sales for the quarter were the highest in the last five quarters at Rs 787.66 crore, and the near term sales trend is positive.
On the other hand, there are some areas that are not working in favor of Orient Electric. The Profit Before Tax (PBT) less Other Income has fallen by -57.8% compared to the average of the previous four quarters. The same trend is seen in the Profit After Tax (PAT), which has fallen by -29.2% compared to the average of the previous four quarters. Additionally, the company's non-operating income is 37.36% of the PBT, which indicates a high reliance on non-business activities.
The company's earnings per share (EPS) for the quarter were the lowest in the last five quarters at Rs 0.60, which shows a decline in profitability and lower earnings for shareholders. While Orient Electric has some positive aspects to its financial performance, the negative trends in PBT, PAT, and EPS are a cause for concern. Investors may want to carefully consider these factors before making any decisions regarding the company's stock.
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