Zenith Steel Reports Impressive Financial Results for Q1 FY25 Despite Sell Call
Zenith Steel Pipes & Industries, a microcap company in the iron and steel industry, recently announced its financial results for the quarter ending March 2024. The company’s stock has been given a “Sell” call by MarketsMOJO.
Despite this, Zenith Steel has shown positive financial performance in the quarter, with a score of 13 compared to 25 in the previous 3 months. The company’s Profit After Tax (PAT) for the half-yearly period has grown by 621.29% year on year, indicating a very positive trend. Similarly, the Net Sales for the same period have also shown a growth of 30.23% year on year, with a positive near-term sales trend.
Moreover, Zenith Steel’s PAT for the half-yearly period is higher at Rs 8.08 crore compared to the preceding 12 months ended June 2024, which was at Rs -9.66 crore. This shows that in just half a year, the company has already surpassed its PAT for the previous twelve months.
However, the company’s Profit Before Tax less Other Income (PBT) for the quarter has fallen by -54.13% year on year, indicating a negative trend in the near term. Despite this, Zenith Steel’s overall financial performance for the quarter ending March 2024 has been positive, with strong growth in PAT and Net Sales.
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