Veritas (India) Reports Positive Net Sales Growth, But Decline in Profitability Raises Concerns
Veritas (India) has declared its financial results for the quarter ending Mar 2024 on May 30, 2024. The smallcap trading company has shown positive growth in net sales, with a 28.1% increase compared to the previous four quarters. However, the profit before tax and after tax have both seen a decline of -28.8% and -49.3% respectively, compared to the average of the previous four quarters. This has resulted in a decrease in earnings per share, which is at its lowest in the last five quarters.
MarketsMOJO has given a 'Hold' call for Veritas (India) stock, based on its financial performance in the quarter. The company's score has also fallen from 29 to 11 in the last three months. While the near term sales trend is positive, the PBT and PAT trends are very negative. This could be a cause for concern for investors, as the company's profitability has declined. However, it is important to note that this is based on the company's financial performance in the quarter and does not reflect its future potential.
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