Shriram AMC Reports Flat Performance in Q1, Shows Positive Sales Growth
Shriram Asset Management Co, a microcap finance company, has recently announced its financial results for the quarter ended March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Shriram AMC has shown a flat performance in the quarter, with a score of 1 compared to -3 in the previous quarter. However, there are some positive aspects to the company's financials.
One of the highlights is the growth in net sales, which have increased by 27.98% year on year, reaching Rs 6.45 crore in the nine-month period. The near-term sales trend is also positive for the company.
On the other hand, the operating profit (PBDIT) for the quarter is at its lowest in the last five quarters, standing at Rs -2.18 crore. The near-term trend for operating profit is negative.
Shriram AMC, being a microcap finance company, has been facing challenges in the current market scenario. However, the company's efforts to improve its sales and financial performance are evident in the positive sales trend. Investors should keep a close eye on the company's future financial reports to make informed decisions.
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