Senco Gold's Q1 financial results show decline in performance, receives 'Hold' call from MarketsMOJO
Senco Gold, a midcap jewellery company, recently declared its financial results for the quarter ended March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Senco Gold's performance for the quarter has been flat, with a score of -2 compared to 16 in the previous quarter. This indicates a decline in the company's financial performance.
One of the major factors contributing to this decline is the Profit After Tax (PAT), which has fallen by 26.5% to Rs 32.17 crore compared to the average PAT of the previous four quarters, which was Rs 43.74 crore. The trend for near term PAT is also negative.
Similarly, the Profit Before Tax less Other Income (PBT) has also seen a decline of 19.3% to Rs 39.54 crore compared to the average PBT of the previous four quarters, which was Rs 49.01 crore. The near term trend for PBT is also negative.
The company's Net Sales for the quarter have also fallen by 7.5% to Rs 1,137.28 crore compared to the average Net Sales of the previous four quarters, which was Rs 1,229.52 crore. The near term trend for sales is negative.
It is worth noting that Senco Gold's Non Operating Income for the quarter was the highest in the last five quarters at Rs 12.84 crore. However, this increase in income from non-business activities may not be sustainable.
Overall, Senco Gold's financial performance for the quarter has been flat and the company's stock has been given a 'Hold' call by MarketsMOJO. Investors are advised to carefully consider these factors before making any investment decisions.
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