Spencer's Retail Reports Negative Financial Results for Q1 2024
Spencer's Retail, a microcap company in the retailing industry, recently declared its financial results for the quarter ending March 2024. According to the data released on May 10, 2024, the company's performance has been negative, with a score of -13 compared to 8 in the previous quarter.
The company's profit before tax, excluding other income, has fallen by 24.1% to Rs -85.14 crore, compared to the average of the previous four quarters at Rs -68.59 crore. This indicates a very negative trend in the near term. Similarly, the profit after tax has also decreased by 30.8% to Rs -80.69 crore, compared to the average of the previous four quarters at Rs -61.67 crore.
Spencer's Retail's ability to manage interest payments has also deteriorated, with the operating profit to interest ratio at its lowest in the last five quarters at -0.29 times. The company's net sales have also fallen by 6.6% to Rs 546.79 crore, compared to the average of the previous four quarters at Rs 585.40 crore, indicating a negative trend in the near term.
The operating profit, or PBDIT, for the quarter is at its lowest in the last five quarters at Rs -12.08 crore, and the operating profit margin is also at its lowest at -2.21%. This shows a decline in the company's efficiency. The profit before tax, excluding other income, is also at its lowest in the last five quarters at Rs -85.14 crore, indicating a negative trend in the near term.
The earnings per share for the quarter is at its lowest in the last five quarters at Rs -8.95, showing a decline in profitability and lower earnings for shareholders. Based on these financial results, MarketsMOJO has given a 'Strong Sell' call for Spencer's Retail's stock.
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