Veto Switchgears & Cables Reports Mixed Performance in Q1 2024 Financial Results

Veto Switchgears & Cables, a microcap company in the cable industry, recently announced its financial results for the quarter ending March 2024. The stock call by MarketsMOJO for the company is 'Hold'.

According to the financials, Veto Switchgears has seen a negative performance in the quarter, with a score of -7 compared to -4 in the previous three months. However, there are some positive aspects to the company's performance.

The earnings per share (EPS) for the quarter were the highest in the last five quarters at Rs 11.04, indicating an increase in profitability and higher earnings for shareholders.

On the other hand, there are some areas that need improvement for Veto Switchgears. The profit before tax less other income (PBT) for the quarter has fallen by 25% year on year, and the net sales have also decreased by 5.59% compared to the same period last year. The operating profit (PBDIT) for the quarter was the lowest in the last five quarters, and the operating profit margin has also decreased, indicating a decline in the company's efficiency.

Moreover, the non-operating income for the quarter was 53.50% of the profit before tax, which is a cause for concern as it shows a high reliance on non-business activities. The company's non-operating income was also the highest in the last five quarters, which may not be sustainable in the long run.

Overall, Veto Switchgears & Cables has shown a mixed performance in the quarter ending March 2024. While there are some positive aspects, there are also areas that need improvement. Investors are advised to hold their stock and keep a close eye on the company's future financial results.