The Hi-Tech Gear Reports Strong Financial Performance in Q1 2024
The Hi-Tech Gear, a smallcap company in the auto ancillary industry, has recently declared its financial results for the quarter ending March 2024. According to the data released on May 29, 2024, the company has shown positive performance in this quarter with a score of 16, compared to 19 in the previous quarter.
One of the key highlights of the financial report is the company's strong ability to manage interest payments, with an operating profit to interest ratio of 6.10 times, the highest in the last five quarters. This indicates that the company's financial health is improving.
The operating profit (PBDIT) for the quarter was also at its highest at Rs 40.84 crore, showing a consistent growth trend in the last five quarters. The profit after tax (PAT) for the quarter was Rs 17.83 crore, which is a significant increase of 50.6% compared to the average PAT of the previous four quarters.
The net sales for the quarter were also at their highest at Rs 286.87 crore, indicating a positive trend in the company's sales performance. The profit before tax (PBT) less other income was also at its highest at Rs 17.86 crore, showing a positive trend in the company's overall profitability.
However, the company's non-operating income, which includes income from non-business activities, was at its highest at Rs 3.38 crore in the last five quarters. This may not be sustainable and could potentially impact the company's financial performance in the future.
Overall, The Hi-Tech Gear has shown a positive financial performance in the quarter ending March 2024. However, investors should keep an eye on the company's non-operating income and its sustainability in the long run. MarketsMOJO has given a 'Hold' call for the company's stock, indicating a neutral stance.
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