Rico Auto Industries Reports Mixed Performance in Q2 2024 Financial Results

Rico Auto Industries, a smallcap company in the auto ancillary industry, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Strong Sell' call by MarketsMOJO.

According to the financial report, Rico Auto Industries has seen a negative performance in the second quarter of the fiscal year 2024-25. However, there has been a slight improvement in the company's score, which has gone from -13 to -7 in the last three months.

One positive aspect of the financials is the net sales for the quarter, which were the highest in the last five quarters at Rs 575.78 crore. The near-term sales trend is also positive for the company.

On the other hand, the profit before tax (PBT) less other income has fallen by 28.9% compared to the average PBT of the previous four quarters. The near-term trend for PBT is also negative. Similarly, the profit after tax (PAT) for the nine-month period has shown a decline of 29.04% year on year. The near-term trend for PAT is also negative.

Another concerning aspect of the financials is the non-operating income, which accounts for 36.08% of the PBT. This indicates that the company's income from non-business activities is high, which may not be a sustainable business model.

Overall, the financial results for the quarter ending September 2024 for Rico Auto Industries show a mixed performance. Investors are advised to carefully analyze the company's financials before making any investment decisions.