Shree Rajasthan Syntex Reports Decline in Profits, Receives 'Sell' Rating from MarketsMOJO
Shree Rajasthan Syntex, a microcap textile company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Shree Rajasthan Syntex has seen a flat performance in the quarter, with a score of 4 out of 14, a significant decrease from the previous quarter. The company's Profit After Tax (PAT) for the quarter was at Rs -2.20 crore, a decrease of 7233.3% compared to the average PAT of the previous four quarters. This indicates a negative trend in the company's near-term profitability.
The company's Net Sales for the nine-month period ending March 2024 was at Rs 9.00 crore, showing a decline of 74.19% compared to the same period last year. This also reflects a negative trend in the company's near-term sales performance.
Furthermore, the company's Profit Before Tax less Other Income (PBT) for the quarter was at Rs -3.28 crore, a decrease of 7.7% compared to the average PBT of the previous four quarters. This indicates a negative trend in the company's near-term profitability.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Shree Rajasthan Syntex. Investors are advised to carefully consider these factors before making any investment decisions.
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