Ginni Filaments Reports Decline in Financial Performance for Q4 2023
Ginni Filaments, a microcap textile company, recently declared its financial results for the quarter ending December 2023. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Ginni Filaments has seen a negative performance in the quarter, with a score of -16 compared to -12 in the previous quarter. This indicates a decline in the company's financial health.
The Profit After Tax (PAT) for the quarter has fallen by 36.8% year on year, standing at Rs -13.97 crore. The Profit Before Tax less Other Income (PBT) has also seen a decline of 19.13% year on year, at Rs -21.48 crore. The company's near term trend for both PAT and PBT is negative.
The interest cost for the half-yearly period has increased by 27.08%, indicating a rise in borrowings. The Operating Profit (PBDIT) for the quarter is at its lowest in the last five quarters, standing at Rs -6.14 crore. The Operating Profit Margin has also hit its lowest point in the last five quarters, at -2.79%. This signifies a decline in the company's efficiency.
The company's near term trend for PBT is also negative, with the lowest PBT of Rs -21.48 crore in the last five quarters. The Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, at Rs -1.63. This indicates a decline in profitability and lower earnings for shareholders.
Overall, Ginni Filaments has seen a negative financial performance in the quarter ending December 2023. Investors are advised to take note of these results and make informed decisions regarding their investments in the company.
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