Rico Auto Industries Reports Mixed Performance in Q3 2023 Financial Results
Rico Auto Industries, a smallcap company in the auto ancillary industry, recently declared its financial results for the quarter ended December 2023. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financials, Rico Auto Inds has seen a flat performance in the quarter, with a score of -4 compared to -1 in the previous quarter. However, there are some positive aspects to the company's performance. The operating profit margin for the quarter was the highest in the last five quarters at 11.13%, indicating an improvement in the company's efficiency. Additionally, the debtors turnover ratio for the half-yearly period was also the highest in the last five periods, showing that the company has been able to settle its debtors faster.
On the other hand, there are some areas of concern for Rico Auto Inds. The profit after tax (PAT) for the quarter was at Rs 10.41 crore, which is a decrease of 15.4% compared to the average PAT of the previous four quarters. This indicates a negative trend in the near term. The net sales for the quarter were also the lowest in the last five quarters, with a negative trend in the near term. The interest cost for the quarter was the highest in the last five quarters and has increased by 17.69% compared to the previous quarter, which could signify increased borrowings.
Overall, Rico Auto Industries has shown a mixed performance in the quarter ended December 2023. Investors are advised to hold their positions in the company's stock and keep an eye on its future financial results.
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