Garnet Construction Reports Flat Performance in Q1 2024, Stock Receives 'Sell' Rating
Despite the challenging market conditions, Garnet Construction has released its financial results for the quarter ending March 2024. The company has reported a flat performance, with a score of -3, which is a significant decrease from the previous quarter's score of 10.
The company's Profit Before Tax less Other Income (PBT) for the quarter was at Rs -2.95 crore, which is a decrease of 1142.1% compared to the average PBT of the previous four quarters, which was Rs -0.24 crore. This indicates a very negative trend in the near term for PBT.
Similarly, the Profit After Tax (PAT) for the quarter was at Rs -0.60 crore, which is a decrease of 154.2% compared to the average PAT of the previous four quarters, which was Rs 1.11 crore. This also shows a very negative trend in the near term for PAT.
The company's Operating Profit (PBDIT) for the quarter was at its lowest in the last five quarters, at Rs -2.72 crore. This indicates a negative trend in the near term for Operating Profit.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Garnet Construction. The company's stock has been given a 'Sell' call by MarketsMOJO. It is important for investors to carefully consider these financials before making any investment decisions.
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