Prince Pipes & Fittings Reports Negative Performance in Q1 FY25 Financial Results
Prince Pipes & Fittings, a leading player in the construction material industry, recently declared 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, Prince Pipes has seen a negative performance in the quarter, with a score of -11 compared to 2 in the previous quarter. This decline can be attributed to various factors.
One of the major factors affecting the company’s performance is the decrease in Profit Before Tax (PBT) less Other Income. The PBT for the quarter was Rs 31.10 crore, which is a significant drop of -40.7% compared to the average PBT of the previous four quarters, which was Rs 52.44 crore. This indicates a very negative trend in the near term.
Similarly, the Profit After Tax (PAT) for the quarter was Rs 24.67 crore, a decrease of -41.6% compared to the average PAT of the previous four quarters, which was Rs 42.22 crore. This also shows a very negative trend in the near term.
The company’s Net Sales for the quarter were Rs 604.47 crore, a decline of -5.9% compared to the average Net Sales of the previous four quarters, which was Rs 642.19 crore. This indicates a negative trend in the near term.
Overall, the financial results for the quarter ending June 2024 have not been favorable for Prince Pipes & Fittings. However, the company remains a strong player in the construction material industry and is expected to bounce back in the future. Investors are advised to hold their stocks for now and keep an eye on the company’s performance in the coming quarters.
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