Visaka Industries Reports Negative Performance in Q1 2024 Financial Results
Visaka Industries, a microcap company in the construction material industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Visaka Industries has seen a negative performance in the quarter, with a score of -9 compared to -23 in the previous quarter. This indicates a slight improvement, but the company still has room for growth.
The profit before tax (PBT) has decreased by 153.01% year on year, with a loss of Rs -1.85 crore. The profit after tax (PAT) has also fallen by 73.5% year on year, with a profit of Rs 1.15 crore. This shows a negative trend in the company's near-term financials.
The net sales for the quarter have also decreased by 12.48% year on year, with a total of Rs 396.03 crore. This indicates a negative trend in the company's sales performance.
One concerning aspect of the financial report is the high non-operating income, which is 195.85% of the PBT. This means that the company's income from non-business activities is high, which may not be a sustainable business model. Additionally, the non-operating income for the quarter is the highest in the last five quarters, which may not be a sustainable trend.
Overall, the financial results for the quarter ending March 2024 show a negative performance for Visaka Industries. Investors are advised to hold their stock and monitor the company's future financial reports for any improvements.
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