Porwal Auto Comp Reports Strong Profit Growth, But Sales Show Negative Trend
Porwal Auto Components, a microcap company in the castings/forgings industry, has recently announced its financial results for the quarter ending March 2024. The results have been declared on May 29, 2024, and have received a 'Hold' call from MarketsMOJO.
According to the financials, Porwal Auto Comp has shown a positive performance in the quarter, with its score improving from 15 to 6 in the last three months. The company's Profit After Tax (PAT) for the half-yearly period is higher at Rs 2.49 crore compared to the preceding 12-month period ended March 2024, which was Rs 1.80 crore. This indicates a strong growth in profits for the company.
However, there are some areas that need improvement for Porwal Auto Comp. The company's Net Sales for the quarter have fallen by 10.3% at Rs 33.34 crore, compared to the average Net Sales of the previous four quarters, which was Rs 37.16 crore. This shows a negative trend in sales in the near term. Additionally, the company's Net Sales for the quarter are the lowest in the last five quarters, indicating a negative sales trend in the short term.
Overall, Porwal Auto Comp has shown a positive financial performance in the quarter ending March 2024, with a strong growth in profits. However, there are some areas that need improvement, particularly in terms of sales. Investors are advised to hold their stocks in the company, as recommended by MarketsMOJO.
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