Shri Venkatesh Refineries Reports Mixed Performance in Q1, PAT Shows 34% Growth
Shri Venkatesh Refineries, a microcap company in the refined oil and vanaspati industry, has recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Shri Venkatesh has shown a flat performance in the quarter, with a score of -1, which is an improvement from the previous quarter's score of -10. However, there are some positive aspects to the company's financials.
The Profit After Tax (PAT) for the nine-month period has shown a growth of 34.02% year on year, reaching Rs 11.70 crore. The near-term trend for PAT is also positive. Additionally, the company's net sales for the quarter have reached a five-quarter high of Rs 165.27 crore, with a positive near-term sales trend.
On the other hand, the company's interest cost for the half-yearly period has increased by 24.10% compared to the previous period. This indicates a rise in borrowings for the company.
Overall, Shri Venkatesh Refineries has shown a mixed performance in the quarter ending June 2024. Investors are advised to hold their positions in the company's stock, as per the recommendation by MarketsMOJO.
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