Radix Industries Reports Mixed Results for Q2 2024, PAT Higher but Net Sales Decline
Radix Industries (India) has recently announced its financial results for the quarter ending June 2024. The company, which operates in the miscellaneous industry and is classified as a microcap, has received a 'Hold' call from MarketsMOJO.
According to the financial report, Radix Industries has seen a flat performance in the quarter, with a score of -2 compared to -1 in the previous three months. However, there are some positive aspects to the company's financials. The Profit After Tax (PAT) for the nine-month period is higher at Rs 1.85 crore, compared to the preceding 12-month period of Rs 1.84 crore. This indicates that the company has already surpassed its sales from the previous year in just nine months.
On the other hand, there are also some areas of concern for Radix Industries. The Net Sales for the quarter have fallen by -15.4% to Rs 6.98 crore, compared to the average Net Sales of the previous four quarters, which was Rs 8.25 crore. This shows a negative trend in the company's sales in the near term. Additionally, the Net Sales for the quarter are the lowest in the last five quarters, further highlighting the negative sales trend.
Overall, Radix Industries has shown a mixed performance in the quarter ending June 2024. While there are some positive aspects, such as a higher PAT and surpassing sales from the previous year, there are also some concerns regarding the decline in Net Sales. Investors are advised to hold their position in the company and keep an eye on its future financial performance.
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