Response Informatics Reports Negative Financial Results for Q1 2024
Response Informatics, a microcap company in the agriculture industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Response Informatics has seen a negative performance in the quarter, with a score of -8 compared to 0 in the previous three months. This is a significant decline and indicates that the company is facing challenges in its operations.
One of the major factors contributing to this negative performance is the decline in Profit After Tax (PAT). The company's PAT for the quarter was at Rs -0.76 crore, which is a decrease of 206.7% compared to the average PAT of the previous four quarters. This trend is expected to continue in the near term.
Similarly, the company's Net Sales also saw a decline of 13.0% compared to the average of the previous four quarters. This indicates a negative trend in the company's sales performance.
In terms of operating profit, Response Informatics recorded its lowest PBDIT (Profit Before Depreciation, Interest, and Taxes) in the last five quarters at Rs -1.08 crore. This is another concerning factor for the company's financial performance.
Furthermore, the company's PBT (Profit Before Tax) less Other Income also saw a decline, reaching its lowest point in the last five quarters at Rs -1.23 crore. This indicates a negative trend in the company's profitability.
Overall, Response Informatics' financial performance for the quarter ending March 2024 has been disappointing, with a decline in key metrics such as PAT, Net Sales, and PBDIT. This has led to a decrease in the company's earnings per share, which is a concern for shareholders.
It remains to be seen how Response Informatics will address these challenges and improve its financial performance in the future. Investors are advised to carefully consider the company's current situation before making any investment decisions.
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