Tulsyan NEC's Q3 Financial Results Show Decline
Tulsyan NEC, a microcap company in the iron and steel industry, recently declared its financial results for the quarter ended September 2023. The stock call by MarketsMOJO for the company is 'Sell'.
In the quarter ended September 2023, Tulsyan NEC saw a decline in net sales by -3.54% compared to a growth of 6.83% in the previous quarter. However, the standalone net profit showed a significant increase of 96.06% compared to a decline of -130.62% in the previous quarter. The operating profit (PBDIT) excluding other income also saw a decline of -106.04% compared to -63.57% in the previous quarter. The interest cost for the company also saw a decline of -9.76% compared to a growth of 48.06% in the previous quarter. The operating profit margin (excluding other income) also saw a decline from the previous quarter.
Tulsyan NEC's financial performance for the quarter ended September 2023 has been negative, with a score of -16 compared to -15 in the last 3 months. The company's interest cost has increased by 110.04% over the previous half-yearly period, indicating increased borrowings. The profit before tax (PBT) less other income has also shown a significant decline of -115.8% compared to the average PBT of the previous four quarters. The profit after tax (PAT) has also shown a decline of -100.8% compared to the average PAT of the previous four quarters. The PBT less other income has been consistently falling in the last five quarters, indicating a negative trend in the near term. The non-operating income for the company has been the highest in the last five quarters, but this may not be sustainable as it comes from non-business activities.
Overall, Tulsyan NEC's financial performance for the quarter ended September 2023 has been negative, with a decline in key financial indicators. Investors should carefully consider these factors before making any investment decisions.
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