Empire Industries Reports Mixed Financial Results
Empire Industries, a microcap company in the glass industry, recently announced its financial results for the quarter ended September 2023. The company's stock has been given a 'Hold' call by MarketsMOJO.
In the quarter, Empire Industries saw a 3.99% growth in net sales compared to the previous quarter, which had a decline of 16.88%. The standalone net profit also showed improvement with a growth of 31.70% compared to a decline of 54.90% in the previous quarter. The operating profit (PBDIT) excluding other income also saw a positive growth of 19.54% compared to a decline of 41.56% in the previous quarter. However, the interest cost has increased by 35.61% in the quarter, indicating a rise in borrowings.
The company's operating profit margin (excluding other income) has also improved in the quarter compared to the previous one. However, overall, Empire Industries has seen a flat financial performance in the quarter, with a score of -3 compared to 6 in the last 3 months.
Looking at the positives, the company's cash and cash equivalents have been the highest in the last six half-yearly periods, standing at Rs 104.17 crore. This shows an improvement in short-term liquidity. On the other hand, the net sales for the quarter have fallen by 16.61% year on year, indicating a negative sales trend in the near term.
In conclusion, while Empire Industries has shown some positive growth in certain areas, its overall financial performance for the quarter has been flat. Investors may want to keep an eye on the company's future performance before making any investment decisions.
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