Cambridge Technology Enterprises Reports Mixed Financial Results for Q1 2024
Cambridge Technology Enterprises, a microcap IT software company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financials, Cambridge Tech. has seen a flat performance in the quarter, with a score of 5 out of 10, down from 6 in the previous 3 months. However, there are some positive aspects to the company's financials.
The Profit Before Tax (PBT) for the quarter has shown a significant growth of 1932.7% at Rs 2.52 crore, compared to the average PBT of the previous four quarters at Rs -0.14 crore. This indicates a very positive trend in the near term. Similarly, the Profit After Tax (PAT) has also shown a growth of 1240.6% at Rs 5.53 crore, compared to the average PAT of the previous four quarters at Rs 0.41 crore.
On the other hand, there are some areas that need improvement for Cambridge Tech. The interest cost for the quarter has increased by 82.97% at Rs 4.19 crore, indicating a rise in borrowings. This is the highest interest cost in the last five quarters. Additionally, the Non Operating Income for the quarter is 56.78% of the PBT, which suggests that the company's income from non-business activities is high and may not be a sustainable business model. The Non Operating Income for the quarter is also the highest in the last five quarters at Rs 3.31 crore.
Overall, Cambridge Technology Enterprises has shown a mixed performance in the quarter ending March 2024. While there are some positive aspects, there are also areas that need improvement. Investors are advised to carefully analyze the company's financials before making any investment decisions.
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