TCI Express reports mixed financial results
TCI Express, a midcap logistics company, recently declared its financial results for the quarter ended September 2023. The company's net sales for the quarter showed a growth of 4.96% compared to the previous quarter, while the standalone net profit saw a growth of 10.05%. The operating profit (PBDIT) also showed a positive growth of 8.78% in the same period.
However, the interest expenses for the quarter saw a decline of 10.26% compared to the previous quarter. This has resulted in an improvement in the operating profit margin (excluding other income) for the company.
According to MarketsMOJO, a leading stock analysis platform, the stock call for TCI Express is 'Sell'. The company's financial performance for the quarter has been rated as 'Flat' with a score of -1, which has decreased from 4 in the last 3 months.
Despite the flat financial performance, there are some positive aspects for TCI Express. The company has shown a consistent growth in its operating cash flow over the last three years. Additionally, the company has been distributing higher dividends to its shareholders from its profits.
However, there are also some areas of concern for the company. The profit after tax (PAT) for the quarter has fallen by 5.8% compared to the same period last year. The company's short-term liquidity has also deteriorated, with its cash and cash equivalents at the lowest in the last six half-yearly periods. Moreover, the company's debtors turnover ratio has slowed down, indicating a delay in settling its debtors.
Overall, TCI Express has shown a mixed performance in the quarter ended September 2023. Investors should carefully consider all the financial aspects before making any investment decisions.
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