Pritika Auto Industries Reports Negative Financial Performance in Q1 2024
Pritika Auto Industries, a microcap engineering company, recently declared its financial results for the quarter ending March 2024. According to the data released on May 23, 2024, the company has seen a negative financial performance with a score of -16, a decrease from -12 in the last three months.
One of the major factors contributing to this decline is the company's Profit After Tax (PAT), which has fallen by 37.5% to Rs 1.93 crore compared to the average PAT of the previous four quarters, which was Rs 3.09 crore. This trend is expected to continue in the near term.
Another concerning aspect is the company's interest cost, which has increased by 42.68% quarter on quarter (QoQ) to Rs 4.48 crore. This signifies an increase in borrowings, which could impact the company's financial stability.
Furthermore, Pritika Auto's ability to manage interest payments has deteriorated, with the Operating Profit to Interest ratio being the lowest in the last five quarters at 2.54 times. This is a cause for concern for investors.
The company's Profit Before Tax less Other Income (PBT) has also hit a low of Rs 2.73 crore, indicating a negative trend in the near term. Additionally, the Earnings per Share (EPS) has decreased to Rs 0.12, creating lower earnings for shareholders.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Pritika Auto's stock. It is important for investors to carefully analyze the company's financial performance before making any investment decisions.
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