Zenotech Labs Reports Negative Financial Results for Q1 2024, Receives 'Sell' Rating
Zenotech Laboratories, a microcap pharmaceutical company, recently announced its financial results for the quarter ending March 2024. According to the report released on May 2, 2024, the company's stock has been given a 'Sell' call by MarketsMOJO.
The financial performance of Zenotech Lab. for the quarter has been negative, with a score of -15 compared to 3 in the previous quarter. This decline can be attributed to several factors, including a decrease in profit before tax (PBT), profit after tax (PAT), and net sales.
The PBT for the quarter was Rs 1.04 crore, which is a significant drop of 66.3% compared to the average PBT of the previous four quarters, which was Rs 3.09 crore. Similarly, the PAT for the quarter was Rs 0.66 crore, a decrease of 76.6% from the average PAT of the previous four quarters, which was Rs 2.83 crore.
The net sales for the quarter were Rs 9.11 crore, a decline of 14.7% from the average net sales of the previous four quarters, which was Rs 10.68 crore. This is also the lowest net sales in the last five quarters, indicating a negative trend in the company's sales.
The operating profit (PBDIT) for the quarter was also at its lowest in the last five quarters, at Rs 2.78 crore. The operating profit margin was also at its lowest, at 30.52%, indicating a decline in the company's efficiency.
The PBT for the quarter was also at its lowest in the last five quarters, at Rs 1.04 crore. The earnings per share (EPS) for the quarter were also at its lowest, at Rs 0.11, indicating a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 have been negative for Zenotech Laboratories. The company's stock has been given a 'Sell' call by MarketsMOJO, and the near-term trends for PBT, PAT, net sales, and operating profit are all negative.
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