Smart Finsec's Q1 2024 Financial Results Show Mixed Performance
Smart Finsec, a microcap finance 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, Smart Finsec's performance for the quarter has remained flat. However, there has been an improvement in the overall score, which has increased from 0 to 3 in the last three months.
One of the key highlights of the financials is the growth in Profit After Tax (PAT) for the nine-month period, which stands at Rs 2.49 crore, showing a significant increase of 102.44% compared to the same period last year. This trend is a positive sign for the company.
Moreover, the PAT for the nine-month period is higher than the preceding 12-month period, which ended in March 2024 at Rs 1.11 crore. This indicates that the company has already surpassed its sales from the previous year in just nine months.
However, there are some areas where Smart Finsec needs to improve. The net sales for the half-yearly period have shown a decline of -28.04% compared to the same period last year. This indicates a negative trend in the near term for the company's sales.
Overall, Smart Finsec's financial results for the quarter ending March 2024 show a mixed performance. While there has been an improvement in PAT, the decline in net sales is a cause for concern. Investors should carefully evaluate the company's financials before making any investment decisions.
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