Cochin Minerals & Rutile Reports Negative Financial Results for Q1 2024
Cochin Minerals & Rutile, a microcap company in the chemicals industry, 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 financial report, Cochin Minerals has seen a negative performance in the quarter, with a score of -17, which is an improvement from the previous quarter's score of -21. This indicates that the company's financial health has deteriorated in the last three months.
One of the major factors contributing to this negative performance is the company's Profit After Tax (PAT), which has fallen by -153.2% year on year, standing at Rs -6.92 crore. This trend is expected to continue in the near term. Similarly, the Profit Before Tax less Other Income (PBT) has also fallen by -10.99% year on year, standing at Rs 16.44 crore. The company's net sales have also shown a decline of -6.50% year on year, standing at Rs 100.82 crore. This indicates a negative trend in the company's sales in the near term.
Moreover, the company's Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, standing at Rs -8.84. This shows a declining profitability and lower earnings for shareholders.
Overall, based on the financial results for the quarter ending March 2024, Cochin Minerals & Rutile is facing challenges in terms of profitability and sales. Investors are advised to take note of these factors before making any investment decisions.
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