Poonawalla Fincorp Reports Strong Financial Results for Q1 2024, Receives 'Buy' Call from MarketsMOJO
Poonawalla Fincorp, a leading finance and non-banking financial company (NBFC), has recently announced its financial results for the quarter ending March 2024. The company has received a 'Buy' call from MarketsMOJO, indicating a positive outlook for its stock.According to the financial report, Poonawalla Fincorp has shown a very positive performance in the last quarter, with a score of 26, up from 27 in the previous quarter. This is a testament to the company's strong financial standing and growth potential.
One of the key factors contributing to this positive performance is the company's net sales, which have been consistently growing each quarter in the last five quarters. In the last quarter, Poonawalla Fincorp recorded its highest net sales at Rs 915.00 crore, indicating a very positive trend in the near term.
The company's operating profit (PBDIT) has also seen a significant increase, with the last quarter recording the highest at Rs 673.73 crore. This trend has been consistent in the last five quarters, showcasing the company's strong financial management and growth strategies.
Poonawalla Fincorp's profit before tax (PBT) has also seen a positive trend, with the last quarter recording the highest at Rs 378.74 crore. This is a 39.9% increase over the average PBT of the previous four quarters, indicating a strong growth trajectory for the company.
The company's profit after tax (PAT) has also seen a significant increase, with the last quarter recording the highest at Rs 331.70 crore. This is a 48.9% increase over the average PAT of the previous four quarters, showcasing the company's strong financial performance.
Overall, Poonawalla Fincorp's financial results for the quarter ending March 2024 have been very positive, with all key indicators showing a strong growth trend. With a 'Buy' call from MarketsMOJO, the company's stock is expected to perform well in the near future.
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