Wires & Fabriks Reports Negative Financial Performance, Receives 'Sell' Call from MarketsMOJO

Wires & Fabriks (S.A), a microcap trading company, has recently declared its financial results for the quarter ending March 2024. The company has received a 'Sell' call from MarketsMOJO based on its negative financial performance.

According to the financial report, the company's score has fallen to -14 from 4 in the last three months. This decline can be attributed to several factors, including a decrease in profit before tax (PBT) and an increase in interest costs. The PBT for the quarter was at Rs -0.85 crore, a significant decrease of 376.4% compared to the average PBT of the previous four quarters.

The company's interest costs have also risen by 28% quarter on quarter, indicating increased borrowings. This has resulted in a decrease in the operating profit to interest ratio, which is now at its lowest in the last five quarters. Additionally, the operating profit margin has also decreased to its lowest at 14.83%, indicating a decline in the company's efficiency.

The non-operating income for the quarter is 572.22% of the PBT, which suggests that the company's income from non-business activities is high. This is not a sustainable business model and could be a cause for concern.

Overall, the financial results for the quarter ending March 2024 have not been favorable for Wires & Fabriks. The company's performance has been on a downward trend, and it has received a 'Sell' call from MarketsMOJO. Investors should carefully consider these factors before making any investment decisions.