Sri Lakshmi Saraswathi Textiles (Arni) Reports Mixed Financial Results for Q1 2024
Sri Lakshmi Saraswathi Textiles (Arni), a microcap textile 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, Sri Lakshmi Saraswathi Textiles (Arni) has shown a flat performance in the quarter, with a score of 1 compared to -7 in the previous quarter. However, there are some positive aspects to the company's financials.
The company's operating profit (PBDIT) for the quarter was the highest in the last five quarters at Rs -3.06 crore. The near-term trend for operating profit is positive. Similarly, the profit before tax less other income (PBT) and profit after tax (PAT) were also the highest in the last five quarters, with positive near-term trends.
On the other hand, the net sales for the quarter were at Rs 28.30 crore, which is a decrease of 15% compared to the average net sales of the previous four quarters. The near-term trend for net sales is also negative.
Despite the negative sales trend, Sri Lakshmi Saraswathi Textiles (Arni) has shown an increase in profitability, with the highest earnings per share (EPS) in the last five quarters. This indicates that the company has been able to create higher earnings for its shareholders.
Overall, the financial results for the quarter ending March 2024 show a mixed performance for Sri Lakshmi Saraswathi Textiles (Arni). Investors should carefully consider all the factors before making any investment decisions.
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