Dredging Corporation of India Reports Decline in Performance for Q1 2024
Dredging Corporation of India, a smallcap company in the shipping industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' call by MarketsMOJO.
According to the financial report, Dredging Corporation has seen a significant decline in its performance for the quarter, with a score of -23 compared to -14 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, profit before tax, and profit after tax.
The company's net sales for the quarter were at Rs 150.80 crore, which is a decrease of 36.2% compared to the average net sales of the previous four quarters. This indicates a negative trend in the company's sales in the near term.
Similarly, the profit before tax (PBT) and profit after tax (PAT) have also seen a significant decline of 463.8% and 444.7%, respectively, compared to the average of the previous four quarters. This shows a negative trend in the company's profitability in the near term.
Moreover, Dredging Corporation's ability to manage interest payments has also deteriorated, with the operating profit to interest ratio being the lowest in the last five quarters. The company's net sales and operating profit have also been at their lowest in the last five quarters.
The company's earnings per share (EPS) for the quarter were at Rs -11.21, which is the lowest in the last five quarters. This indicates a decline in profitability and lower earnings for shareholders.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Dredging Corporation of India. Investors should carefully consider these factors before making any investment decisions.
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