Uniroyal Industries Shows Positive Growth in Financial Results for March 2024 Quarter
Uniroyal Industries, a microcap textile company, has recently announced its financial results for the quarter ended March 2024. The company has shown positive performance with a score of 10, an improvement from 9 in the last 3 months.
One of the key highlights of the financial report is the significant growth in Profit After Tax (PAT) for the half-yearly period, which has increased by 494.34% year on year. This is a very positive trend for the company. Additionally, the PAT for the half-yearly period is higher at Rs 2.09 crore compared to the preceding 12-month period ended March 2024, which was at Rs -1.76 crore. This indicates that the company has already surpassed its PAT for the previous 12 months in just half a year.
However, the company has also seen a decline in its quarterly net sales, which have fallen by -5.3% compared to the average net sales of the previous four quarters. This could be a cause for concern in the near term as the sales trend is negative.
MarketsMOJO has given a 'Hold' call for Uniroyal Industries' stock, indicating a neutral stance. With these financial results, investors may want to keep an eye on the company's performance in the coming quarters.
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