Saregama India shows strong sales and profit growth in Q1 2024
Saregama India, a midcap company in the lifestyle industry, has recently announced its financial results for the quarter ending March 2024. The company has shown a positive performance in this quarter, with a significant improvement in its overall score from 1 to 11 in the last 3 months.
One of the key factors contributing to this positive performance is the growth in net sales, which has increased by 41.5% to Rs 263.05 crore compared to the average net sales of the previous four quarters. This indicates a strong sales trend in the near term for the company.
Saregama India has also seen a growth in its operating profit (PBDIT) in the last five quarters, with the highest recorded at Rs 70.02 crore in this quarter. This trend is expected to continue in the near term, indicating a positive outlook for the company.
The profit before tax (PBT) less other income has also shown a consistent growth in the last five quarters, with the highest recorded at Rs 58.05 crore in this quarter. This trend is expected to continue in the near term, indicating a positive financial outlook for the company.
In terms of profitability, Saregama India has shown a positive trend in its net sales and PBT, with the highest recorded at Rs 263.05 crore and Rs 58.05 crore respectively in the last five quarters. This indicates that the company has been able to create higher earnings for its shareholders.
However, one area of concern for Saregama India is its non-operating income, which has increased significantly in the last five quarters. This may not be sustainable in the long term and could impact the company's overall financial performance.
Based on the financial results for the quarter ending March 2024, MarketsMOJO has given a 'Hold' call for Saregama India's stock. Investors are advised to keep a close eye on the company's financial performance in the coming quarters to make informed investment decisions.
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