Athena Global Technologies Reports Positive Net Sales Growth in Q2 2024, But Decline in Profits
Athena Global Technologies, a microcap IT software company, has recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Athena Global has shown positive performance in the quarter, with a score of 18, compared to 21 in the previous quarter. This indicates a slight decline in performance, but the company's net sales have seen a significant growth of 48.44% year on year, reaching Rs 8.09 crore. This is a positive trend for the company's sales in the near future.
Another positive aspect for Athena Global is its debtors turnover ratio, which is at its highest in the last five half-yearly periods at 5.56 times. This shows that the company has been able to settle its debtors faster, which is a good sign for its financial health.
However, the company's profit after tax (PAT) for the quarter has fallen to Rs -4.74 crore, a decrease of -109.2% compared to the average PAT of the previous four quarters, which was Rs 51.28 crore. This indicates a negative trend in the near term for the company's profits.
Overall, Athena Global has shown a mixed performance in the quarter ending June 2024, with positive growth in net sales but a decline in profits. Investors should carefully consider these factors before making any investment decisions.
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