Tamil Nadu Petro Products Reports Negative Financial Results for Q1 2024
Tamil Nadu Petro Products, a microcap company in the petrochemical industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, T N Petro Prod. has seen a negative performance in the quarter, with a score of -18, which is an improvement from the previous quarter's score of -21. This indicates a downward trend in the company's financials.
The profit before tax (PBT) for the quarter has fallen by 70.8% to Rs 3.26 crore, compared to the average PBT of the previous four quarters, which was Rs 11.15 crore. The profit after tax (PAT) has also decreased by 21.2% to Rs 11.92 crore, compared to the average PAT of the previous four quarters, which was Rs 15.13 crore. This shows a negative trend in the company's near-term financial performance.
The net sales for the half-yearly period have also decreased by 20.88% year on year, standing at Rs 783.58 crore. This indicates a negative trend in the company's sales performance in the near term. The operating profit (PBDIT) for the quarter is at its lowest in the last five quarters, standing at Rs 11.68 crore. This shows a negative trend in the company's operating profit.
The operating profit margin for the quarter is also at its lowest in the last five quarters, standing at 2.67%. This indicates a deterioration in the company's efficiency. The non-operating income for the quarter is 77.69% of the PBT, which is a cause for concern as it shows a high reliance on non-business activities for income. The non-operating income for the quarter is also at its highest in the last five quarters, standing at Rs 11.35 crore, which may not be sustainable in the long run.
Overall, the financial results for the quarter ending March 2024 for Tamil Nadu Petro Products show a negative trend in the company's performance. Investors should take note of these factors before making any investment decisions.
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