Pasari Spinning Mills Reports Decline in Q3 Profits

Pasari Spinning Mills, a microcap textile company, recently announced its financial results for the quarter ended September 2023. The company reported a decline in net sales by 23.08% compared to the previous quarter, while its standalone net profit also decreased by 23.08%. This is in contrast to the significant growth of 125.49% in net profit seen in the quarter ended June 2023.

The company's operating profit (PBDIT) excluding other income also saw a decline of 25.00% in the September quarter, compared to a growth of 132.00% in the previous quarter. However, there was no change in the interest rate for the company in the September quarter.

Pasari Spinning's operating profit margin (excluding other income) has remained flat in the last few periods, indicating a consistent performance in this aspect. The company's financial score has also remained the same in the last three months.

Despite the flat financial performance, there are some positive highlights for Pasari Spinning in the September 2023 quarter. The company's profit after tax (PAT) for the half-yearly period was higher at Rs 0.23 crore compared to the preceding 12-month period ended September 2023, which reported a PAT of Rs -0.27 crore. This shows a promising start for the company in the current financial year.

Based on the recent financial results, MarketsMOJO has given a 'Sell' call for Pasari Spinning's stock. However, it is important to note that this is not a recommendation and should not be considered as such. The company's financial performance should be evaluated based on facts and figures rather than investor interest or expert opinions.