Oriental Carbon & Chemicals Reports Flat Performance in Q1 2024 Financial Results
Oriental Carbon & Chemicals, a microcap company in the chemicals 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 financial report, Oriental Carbon's performance for the quarter has remained flat, with a score of -2. However, this is an improvement from the previous quarter's score of -14.
One of the major factors contributing to this flat performance is the company's Profit Before Tax less Other Income (PBT) for the quarter, which has fallen by -5.98% year on year to Rs 16.68 crore. This trend is expected to continue in the near term.
Another concerning aspect is the company's Non Operating Income for the quarter, which has reached its highest at Rs 3.11 crore in the last five quarters. While this may seem like a positive, it is important to note that this income is from non-business activities and may not be sustainable in the long run.
Overall, Oriental Carbon's financial results for the quarter ending March 2024 have not been very promising. Investors are advised to carefully consider these factors before making any investment decisions.
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