Almondz Global Securities Reports Positive Financial Results for Q1 2024, Hold Call by MarketsMOJO
Almondz Global Securities, a microcap finance and non-banking financial company (NBFC), recently declared its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.According to the financials, Almondz Global has shown positive performance in the quarter, with a score of 13 out of 20. This is a slight decrease from the previous quarter's score of 20.
One of the key factors contributing to the positive performance is the company's net sales, which have grown by 69.97% year on year to reach Rs 75.06 crore in the first half of the year. The near-term sales trend is also very positive.
In terms of profitability, Almondz Global has shown a strong performance with its Profit Before Tax (PBT) for the quarter being the highest in the last five quarters at Rs 6.24 crore. The Profit After Tax (PAT) for the quarter is also the highest in the last five quarters at Rs 6.09 crore. The near-term trend for both PBT and PAT is positive.
However, the company's cash and cash equivalents have decreased to the lowest in the last six half-yearly periods at Rs 12.70 crore. This indicates a deteriorating short-term liquidity for Almondz Global.
Overall, the financial results for the quarter ending March 2024 show a positive performance for Almondz Global Securities. Investors are advised to hold their positions in the company's stock, as recommended by MarketsMOJO.
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