Akar Auto Industries Reports Decline in Performance for Q1 2024, Receives 'Strong Sell' Rating from MarketsMOJO
Akar Auto Industries, a microcap engineering company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' call by MarketsMOJO, indicating a negative outlook for investors.
According to the financial report, Akar Auto Industries has seen a decline in its performance for the quarter, with a score of -6 compared to -13 in the previous quarter. This indicates a negative trend in the company's financials.
One of the major factors contributing to this decline is the company's Profit After Tax (PAT), which has decreased by 36.55% year on year, standing at Rs 2.50 crore. The near-term trend for PAT is also negative, which may be a cause for concern for investors.
Another concerning aspect is the company's interest cost, which has increased by 25.90% over the previous half-yearly period. This suggests that the company has taken on more borrowings, which could impact its financial stability.
Overall, the financial results for the quarter ending March 2024 do not paint a positive picture for Akar Auto Industries. Investors should take note of the 'Strong Sell' call by MarketsMOJO and carefully consider their investment decisions.
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