Balurghat Tech's Q1 FY25 Financial Results Show Mixed Performance
Balurghat Technologies, a microcap logistics company, recently announced its financial results for the quarter ending June 2024. According to the report released on August 10, 2024, the company’s stock has been given a ‘Sell’ call by MarketsMOJO.
The financial performance of Balurghat Tech for the quarter has remained flat, with a score of 2 compared to 6 in the previous 3 months. However, there are some positive aspects to the company’s performance based on the June 2024 financials.
One of the highlights is the Debtors Turnover Ratio, which has been consistently growing each half year and is currently at its highest at 4.31 times. This indicates that the company has been able to settle its debtors faster. Additionally, the Profit After Tax (PAT) for the nine-month period is higher at Rs 1.88 crore compared to the preceding 12-month period of Rs 1.70 crore. This shows a significant increase in sales for the company in the first nine months of the year.
On the other hand, there are some areas of concern for Balurghat Tech based on the June 2024 financials. The Net Sales for the quarter have fallen by -14.7% compared to the average of the previous four quarters. This is also the lowest net sales in the last five quarters, indicating a negative trend in the near term.
Overall, Balurghat Technologies has shown a mixed performance in the June 2024 quarter. While there are some positive aspects, there are also some areas that need improvement. Investors are advised to carefully consider these factors before making any investment decisions.
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