Zaggle Prepaid Ocean Services Reports Strong Financial Performance in Q1 2024
Zaggle Prepaid Ocean Services, a smallcap IT software company, has recently announced its financial results for the quarter ended March 2024. The company has received a 'Hold' call from MarketsMOJO, a leading financial analysis platform.
According to the financial report, Zaggle Prepaid has shown a very positive performance in the quarter, with a consistent score in the last three months. The company's Profit Before Tax (PBT) has grown by 133.5% to Rs 21.28 crore, compared to the average PBT of the previous four quarters at Rs 9.11 crore. This indicates a very positive trend in the near term for PBT.
Similarly, the Profit After Tax (PAT) has also shown a significant growth of 136.3% to Rs 19.16 crore, compared to the average PAT of the previous four quarters at Rs 8.11 crore. The company's Net Sales have also seen a growth of 58.7% to Rs 273.37 crore, compared to the average Net Sales of the previous four quarters at Rs 172.27 crore. This shows a very positive trend in the near term for sales.
Zaggle Prepaid has also achieved its highest Net Sales in the last five quarters, indicating a positive trend in the near term. The company's Operating Profit (PBDIT) has also reached its highest at Rs 27.22 crore in the last five quarters, showing a positive trend in the near term. Similarly, the PBT and PAT have also reached their highest at Rs 21.28 crore and Rs 19.16 crore respectively in the last five quarters.
However, there are some areas that need improvement for Zaggle Prepaid. The company's interest cost has increased by 77.10% quarter on quarter, indicating a rise in borrowings. Additionally, the company's non-operating income has also reached its highest at Rs 4.68 crore in the last five quarters, which may not be sustainable in the long term.
Overall, Zaggle Prepaid Ocean Services has shown a very positive financial performance in the quarter ended March 2024. With a 'Hold' call from MarketsMOJO, the company's future looks promising.
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