Prima Industries' Q1 Financial Report Shows Concerning Trends, Investors Advised to Take Note
Prima Industries, a microcap company in the solvent extraction industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Prima Industries has shown a flat performance in the quarter, with a slight improvement in its score from -4 to -3 in the last three months. However, there are some concerning factors that have contributed to this score.
The company's operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, standing at Rs -0.94 crore. This indicates a negative trend in the near term for the company's operating profit. Similarly, the profit before tax (PBT) less other income was also at its lowest in the last five quarters, at Rs -0.95 crore. This also shows a negative trend in the near term for the company's PBT.
One of the major concerns highlighted in the financial report is the high non-operating income of the company, which is 213.10% of its PBT. This means that a significant portion of the company's income is coming from non-business activities, which may not be a sustainable business model. Additionally, the non-operating income for the quarter was at its highest in the last five quarters, at Rs 1.79 crore. This increase in income from non-business activities may not be sustainable for the company.
Overall, Prima Industries' financial performance for the quarter ending March 2024 has not been impressive, with several concerning factors that need to be addressed. Investors are advised to take note of these financials and make informed decisions regarding their investments in the company.
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