Sky Gold Reports Strong Q2 Results, Receives 'Buy' Call from MarketsMOJO
Sky Gold, a midcap company in the diamond and gold jewellery industry, has recently announced its financial results for the quarter ending September 2024. The company has received a 'Buy' call from MarketsMOJO, indicating a positive outlook for investors.
According to the financials, Sky Gold has shown a very positive performance in the second quarter of FY24-25. The company's Profit After Tax (PAT) has grown by 187.7% to Rs 36.71 crore, compared to the average PAT of the previous four quarters at Rs 12.76 crore. This trend is expected to continue in the near term.
The company's Net Sales have also seen a significant growth, reaching a high of Rs 768.85 crore in the last quarter. This is a 47% increase from the average Net Sales of the previous four quarters at Rs 523.21 crore. The Operating Profit (PBDIT) has also shown a positive trend, reaching a high of Rs 38.78 crore in the last quarter.
However, there are some areas that need improvement for Sky Gold. The company's interest cost has increased by 26.63% quarter on quarter, indicating a rise in borrowings. Additionally, the company's non-operating income, which is 42.76% of the Profit Before Tax (PBT), is a cause for concern as it may not be a sustainable business model.
Overall, Sky Gold's financial performance for the quarter ending September 2024 has been very positive, with strong growth in key areas. With a 'Buy' call from MarketsMOJO, investors can look forward to a promising future for the company.
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