TBO Tek Reports Positive Financial Results for Q2 2024, Stock Rated 'Hold' by MarketsMOJO
Despite the challenges faced by the travel industry due to the pandemic, TBO Tek, a midcap company in the travel services industry, has announced positive financial results for the quarter ending in June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.According to the financial report released on August 13, 2024, TBO Tek has shown significant improvement in its financial performance, with a score of 7 out of 10, compared to 0 in the previous quarter. This is a promising sign for the company's future growth.
One of the key factors contributing to this positive performance is the increase in Profit Before Tax (PBT) by 64.2% to Rs 21.02 crore, compared to the average PBT of the previous four quarters at Rs 12.81 crore. The company has also seen a growth of 68.9% in Profit After Tax (PAT) to Rs 23.30 crore, compared to the average PAT of the previous four quarters at Rs 13.80 crore. This indicates a strong near-term trend for the company's profitability.
TBO Tek has also shown a strong cash flow from its business operations, with the highest operating cash flow of Rs 99.03 crore in the last three years. The company's net sales for the quarter were also at its highest in the last five quarters at Rs 154.37 crore, showing a positive trend in sales.
The company's earnings per share (EPS) for the quarter were at its highest in the last five quarters at Rs 2.15, indicating an increase in profitability and creating higher earnings for shareholders.
However, TBO Tek also faced challenges in the form of increased non-operating income of Rs 10.33 crore in the last five quarters. This may not be sustainable in the long run and could affect the company's overall financial performance.
Overall, TBO Tek has shown a strong financial performance in the quarter ending in June 2024, with positive trends in key areas such as PBT, PAT, and sales. The company's stock has been given a 'Hold' call by MarketsMOJO, indicating a neutral stance for investors.
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