Premier Synthetics Reports Negative Financial Results for Q4 2023
Premier Synthetics, a microcap company in the textile industry, recently announced its financial results for the quarter ending December 2023. The results have been declared on February 13, 2024.
According to MarketsMOJO, a leading financial analysis firm, the stock call for Premier Synthetics is currently 'Strong Sell'. This is based on the negative financial performance of the company in the last quarter.
The company's net sales for the quarter have fallen by 38.8% to Rs 9.21 crore, compared to the average net sales of the previous four quarters which was Rs 15.05 crore. This indicates a very negative trend in near term sales.
Similarly, the profit after tax (PAT) for the quarter has also seen a significant decline of 469.7% to Rs -1.65 crore, compared to the average PAT of the previous four quarters which was Rs -0.29 crore. This shows a very negative trend in near term profitability.
Premier Synthetics has also recorded its lowest net sales and operating profit (PBDIT) in the last five quarters, indicating a negative trend in near term sales and operating profit. The company's operating profit margin has also decreased to -16.40%, showing a deterioration in its efficiency.
Moreover, the profit before tax (PBT) less other income for the quarter has also been the lowest in the last five quarters at Rs -1.74 crore, indicating a negative trend in near term PBT.
The earnings per share (EPS) for the quarter have also declined to Rs -3.59, showing a declining profitability and lower earnings for shareholders.
Based on these financial results, it is evident that Premier Synthetics is currently facing challenges in its operations and has recorded a negative trend in its financial performance. Investors are advised to carefully consider these factors before making any investment decisions.
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