Bhakti Gems & Jewellery Reports Decline in Q3 Results
Bhakti Gems & Jewellery, a microcap company in the jewellery industry, has recently declared its financial results for the quarter ended September 2023. According to the data released on November 4, 2023, the company's net sales have seen a decline of 36.61% compared to the previous quarter, while the standalone net profit has decreased by 73.33%. The operating profit (PBDIT) excluding other income has also seen a decline of 30.77% in the same period.
The company's interest expenses have increased by 60.00% in the quarter ended September 2023, compared to a significant decrease of 88.64% in the previous quarter. However, the operating profit margin (excluding other income) has shown improvement compared to the previous quarter.
Despite these financial results, MarketsMOJO has given a 'Sell' call for Bhakti Gems' stock. The company's overall score has fallen from -3 to -12 in the last three months, indicating a negative trend in its financial performance.
The net sales for the quarter ended September 2023 have fallen to Rs 10.25 crore, a decrease of 55.76% compared to the same period last year. This is also the lowest net sales in the last five quarters, showing a negative trend in the company's sales. The operating profit (PBDIT) for the quarter has also hit a low of Rs 0.18 crore, while the profit before tax (PBT) has decreased to Rs 0.10 crore, the lowest in the last five quarters. The earnings per share (EPS) have also declined to Rs 0.03, indicating a decrease in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ended September 2023 have not been positive for Bhakti Gems & Jewellery. Investors and stakeholders should carefully consider these numbers before making any decisions related to the company's stock.
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