Visagar Financial Services Reports Decline in Sales and Profits for Q1 FY25
Visagar Financial Services, a microcap finance company, recently announced its financial results for the quarter ending June 2024. According to the report released on August 13, 2024, the company’s stock has been given a ‘Sell’ call by MarketsMOJO.
The financial performance of Visagar Financial Services for the quarter has been flat, with a score of -1 compared to 6 in the previous quarter. This decline can be attributed to various factors, as seen in the company’s financials for the quarter.
One of the major concerns is the decrease in net sales, which have fallen by 48.34% year on year to Rs 30.57 crore. This is also reflected in the near-term sales trend, which is very negative. Additionally, the company’s profit before tax (PBT) less other income has also seen a significant decline of 686.36% year on year, standing at Rs -2.58 crore. The near-term trend for PBT is also negative. Similarly, the profit after tax (PAT) has fallen by 686.4% year on year to Rs -2.58 crore, indicating a negative trend in the near term.
Furthermore, the net sales for the quarter are the lowest in the last five quarters, which is a cause for concern. The near-term sales trend is also negative, indicating a challenging market for Visagar Financial Services.
Overall, the financial results for the quarter ending June 2024 have not been favorable for Visagar Financial Services. Investors are advised to carefully consider these factors before making any investment decisions.
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