Phyto Chem (I) Reports Mixed Q3 Results
Phyto Chem (India) reported a significant growth of 1,026.56% in net sales for the quarter ended September 2023, but standalone net profit only grew by 90.91%. Operating profit (PBDIT) showed a positive growth of 142.19%, but interest expenses increased by 12.50%. The company's financial health has declined, with negative trends in profit before and after tax, and a 43.44% decline in net sales for the half-yearly period. Investors should carefully consider these factors before making any investment decisions.
Phyto Chem (India), a microcap company in the pesticides and agrochem industry, recently announced its financial results for the quarter ended September 2023. The company's net sales for the quarter showed a significant growth of 1,026.56% compared to the previous quarter, which had seen a decline of 87.20%. However, the standalone net profit for the quarter showed a growth of only 90.91%, which is a significant decrease from the previous quarter's growth of -1,566.67%.
The company's operating profit (PBDIT) excluding other income also showed a positive growth of 142.19% compared to the previous quarter's decline of -300.00%. However, the interest expenses for the quarter showed a slight increase of 12.50% compared to the previous quarter's decline of -15.15%. Overall, the operating profit margin (excluding other income) has improved from the previous quarter.
Despite the positive growth in some areas, Phyto Chem (I) has seen a negative financial performance in the quarter ended September 2023. The company's score has fallen from -5 to -17 in the last 3 months, indicating a decline in its financial health.
The company's profit before tax (PBT) less other income has fallen by 108.76% year on year, and the near-term trend for PBT is very negative. Similarly, the profit after tax (PAT) has also fallen by 108.1% year on year, and the near-term trend for PAT is also very negative. The net sales for the half-yearly period have also shown a decline of 43.44% year on year, indicating a negative trend in the company's sales performance.
In conclusion, Phyto Chem (I) has shown a mixed financial performance in the quarter ended September 2023, with some areas showing positive growth while others showing a decline. Investors should carefully consider these factors before making any investment decisions.
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