Shipping Corporation of India shows positive financial performance in Q2 2024
The Shipping Corporation of India (SCI), a midcap company in the shipping industry, has recently declared its financial results for the quarter ending September 2024. According to the latest update, the stock call for SCI by MarketsMOJO is 'Hold'.
The company has shown positive financial performance in the second quarter of the fiscal year 2024-2025, with a score improvement from 10 to 18 in the last three months. This is a significant improvement and indicates a positive trend for the company.
One of the major factors contributing to this positive performance is the Profit After Tax (PAT) for the half-yearly period, which has grown by 145.61% year on year, reaching Rs 582.92 crore. This is a very positive trend for the company.
The Profit Before Tax less Other Income (PBT) for the quarter has also shown a significant growth of 94.9% over the average PBT of the previous four quarters, reaching Rs 257.95 crore. This is the highest PBT in the last five quarters and indicates a positive trend for the near future.
The company's Net Sales for the half-yearly period have also shown a growth of 29.29% year on year, reaching Rs 2,965.03 crore. This is a positive trend for the near term.
The Operating Profit (PBDIT) for the quarter has reached its highest at Rs 532.63 crore in the last five quarters, indicating a positive trend for the near future. The Operating Profit Margin has also shown improvement, reaching its highest at 36.71% in the last five quarters, indicating an improvement in the company's efficiency.
On the downside, the Operating Cash Flow for the year has shown a decline, reaching its lowest at Rs 994.06 crore in the last three years. This indicates a decrease in the company's cash revenues from business operations.
Overall, the financial results for the quarter ending September 2024 show a positive trend for the Shipping Corporation of India. With a 'Hold' stock call by MarketsMOJO, investors may consider holding onto their investments in the company for now.
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