Riddhi Siddhi Gluco Biols Reports Mixed Performance
Riddhi Siddhi Gluco Biols, a microcap trading company, has recently announced its financial results for the quarter ended September 2023. The company's net sales for the quarter have decreased by 71.51% compared to the previous quarter, while the consolidated net profit has also seen a decline of 3.33%. However, the operating profit (PBDIT) excluding other income has shown a significant growth of 1,765.00% compared to the previous quarter.
The company's interest payments have also increased by 20.61% in the quarter ended September 2023. Despite these challenges, Riddhi Siddhi Gl has managed to improve its operating profit margin (excluding other income) compared to the previous quarter.
The financial performance of Riddhi Siddhi Gl for the quarter ended September 2023 has been rated as 'Sell' by MarketsMOJO. However, the company has shown positive growth in certain areas. The profit after tax (PAT) for the quarter has grown by 353.9% year on year, and the company's ability to manage interest payments has also improved.
On the other hand, the net sales for the quarter have decreased by 56.86% year on year, and the company's income from non-business activities is high, which may not be a sustainable business model. Riddhi Siddhi Gl's non-operating income for the quarter is also the highest in the last five quarters, which may not be sustainable in the long run.
Overall, Riddhi Siddhi Gluco Biols has shown a mixed financial performance for the quarter ended September 2023. Investors should carefully consider these factors before making any investment decisions.
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