Orient Green Power Company Reports Decline in Financial Performance for Q1 2024
Orient Green Power Company, a smallcap player in the power industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' call by MarketsMOJO.
According to the financial report, Orient Green has seen a negative performance in the quarter, with a score of -9 compared to -1 in the previous three months. This indicates a decline in the company's overall financial health.
One of the major factors contributing to this decline is the Profit Before Tax (PBT) less Other Income, which has fallen by 21.59% year on year to Rs -25.57 crore. The near-term trend for PBT is also negative, indicating potential challenges for the company in the coming months.
Similarly, the Profit After Tax (PAT) for the nine-month period has also seen a decline of 44.48% year on year to Rs 15.43 crore. The near-term trend for PAT is also negative, further highlighting the company's financial struggles.
In terms of sales, Orient Green has reported a decline of 18.93% year on year to Rs 36.02 crore in the quarterly net sales. The near-term trend for sales is also negative, indicating a potential slowdown in the company's revenue.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Orient Green Power Company. Investors and stakeholders should closely monitor the company's performance in the coming months to make informed decisions.
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