Ortin Laboratories Reports Decline in Profitability for Q1 2024
Ortin Laboratories, a microcap pharmaceutical company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a "Strong Sell" rating by MarketsMOJO.
According to the financial report, Ortin Labs. has experienced negative performance in the quarter, with a score that has remained the same for the past three months. This is a cause for concern for investors and stakeholders.
The company's Profit Before Tax less Other Income (PBT) for the quarter was at Rs -3.18 crore, a significant decrease of -1666.67% compared to the same quarter last year. This trend is expected to continue in the near term, indicating a negative outlook for the company's profitability.
Similarly, the Profit After Tax (PAT) for the quarter was at Rs -4.14 crore, a decrease of -2200.0% compared to the previous year. This is also a worrying trend for the company's financial health.
The Operating Profit (PBDIT) for the quarter was at its lowest in the last five quarters, at Rs -3.06 crore. This indicates a negative trend in the company's operating performance in the near term.
Overall, the financial results for the quarter ending March 2024 show a decline in profitability for Ortin Laboratories. The company's Earnings per Share (EPS) for the quarter was also at its lowest in the last five quarters, at Rs -5.09. This is a cause for concern for shareholders as it indicates a decrease in earnings.
Investors and stakeholders should closely monitor the company's financial performance in the coming quarters to make informed decisions about their investments.
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