Credent Global Finance Reports Positive Profit Growth in Q1 2024, But Decline in Net Sales
Credent Global Finance, a microcap finance company, recently announced its financial results for the quarter ended March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Credent Global has seen a decline in its overall performance for the quarter, with a score of -9 compared to 8 in the previous quarter. However, there are some positive aspects to the company's financials.
One of the highlights is the growth in Profit After Tax (PAT) for the quarter, which has increased by 137.7% to Rs 2.43 crore compared to the average PAT of the previous four quarters at Rs 1.02 crore. This shows a positive trend in the company's profitability in the near term.
On the other hand, the company's Net Sales for the half-yearly period have shown a decline of -55.41% Year on Year (YoY) at Rs 7.75 crore. This indicates a negative trend in the company's sales performance in the near term.
Credent Global Finance operates in the finance and non-banking financial sector and is classified as a microcap company. The company's financial results for the quarter ended March 2024 provide valuable insights for investors to make informed decisions about their investments in the company's stock.
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