Premco Global's Q1 FY25 Financial Results Show Neutral Performance, Cash Reserves Reach Six-Year High

Premco Global, a microcap textile company, recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.

According to the financial report, Premco Global’s performance has remained flat in the last quarter, with a score of 0 compared to 4 in the previous three months. However, there are some positive aspects to the company’s financials.

One of the highlights is the company’s cash and cash equivalents, which have reached a six-year high of Rs 33.77 crore in the last six half-yearly periods. This indicates an improvement in short-term liquidity for Premco Global.

On the other hand, the company’s non-operating income for the quarter is 36.65% of its profit before tax (PBT). This suggests that a significant portion of the company’s income is coming from non-business activities, which may not be a sustainable business model.

Overall, Premco Global’s financial performance for the quarter ending June 2024 has been neutral. While there are some positive aspects, there are also some concerns that need to be addressed. Investors are advised to hold their positions and monitor the company’s future financial reports for any significant changes.