EKI Energy Services Reports Negative Financial Results, Receives 'Strong Sell' Rating
EKI Energy Services, a microcap company in the capital goods industry, recently announced its financial results for the quarter ending March 2024. The results, declared on May 13, have received a 'Strong Sell' rating from MarketsMOJO.
According to the financial report, EKI Energy has seen a negative performance in the quarter, with a score of -13. However, this is an improvement from the previous quarter's score of -23.
One of the major factors contributing to this negative performance is the company's net sales, which have decreased by 75.49% year on year, standing at Rs 121.40 crore for the half-yearly period. The near-term sales trend is also showing a negative trend.
Similarly, the company's profit after tax (PAT) has also decreased by 75.49% year on year, with a total of Rs -50.51 crore for the half-yearly period. This indicates a negative trend in the near term for the company's PAT.
On a positive note, EKI Energy has seen an increase in its non-operating income for the quarter, with the highest amount of Rs 7.76 crore in the last five quarters. However, experts believe that this increase may not be sustainable as it comes from non-business activities.
Overall, EKI Energy's financial performance for the quarter ending March 2024 has been negative, leading to a 'Strong Sell' rating from MarketsMOJO. Investors and stakeholders should closely monitor the company's future financial reports to make informed decisions.
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