Prakash Steelage Reports Negative Performance in Q2 2024 Financial Results
Prakash Steelage, a microcap trading company, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Prakash Steelage has seen a negative performance in the second quarter of the fiscal year 2024-2025. However, there has been a slight improvement in the company's score, which has gone from -18 to -10 in the last three months.
One of the major factors contributing to the negative performance is the decline in net sales. The company's net sales for the quarter were Rs 19.25 crore, which is a decrease of 17.6% compared to the average net sales of the previous four quarters, which stood at Rs 23.38 crore. This indicates a downward trend in the company's sales in the near term.
Another concerning aspect is the company's profit after tax (PAT) for the first half of the fiscal year. The PAT for this period was Rs 0.36 crore, showing a decline of 33.52% compared to the same period last year. The near term trend for PAT is also negative.
Overall, the financial results for the quarter ending September 2024 have not been favorable for Prakash Steelage. The company will need to address the issues affecting its sales and profits in order to improve its performance in the future.
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