Ginni Filaments Reports Negative Financial Performance

Ginni Filaments, a microcap textile company, recently declared its financial results for the quarter ended September 2023. The stock call by MarketsMOJO for the company is 'Sell'.

According to the quarterly analysis, the company has seen a 2.17% growth in net sales compared to the previous quarter, which had a growth of -0.29%. However, the standalone net profit has decreased by -23.10% in the current quarter, as opposed to a decrease of -67.87% in the previous quarter. The operating profit (PBDIT) excluding other income has also seen a significant decrease of -275.00% compared to a growth of 250.00% in the previous quarter. The interest cost has also decreased by -0.40% in the current quarter, compared to a growth of 70.27% in the previous quarter. The operating profit margin (excluding other income) has also fallen from the previous quarter.

The financial performance of Ginni Filaments for the quarter ended September 2023 has been negative, with a score of -12, which has improved from -21 in the last 3 months.

Based on the financials of September 2023, here's what is not working for Ginni Filaments:
- Profit Before Tax (PBT) less Other Income has fallen by -559.61% year on year (YoY) to Rs -16.82 crore. The near-term trend for PBT is very negative.
- Profit After Tax (PAT) has also fallen by -965.7% YoY to Rs -10.87 crore. The near-term trend for PAT is also very negative.
- Interest cost has increased by 52.58% over the previous half-yearly period to Rs 15.09 crore. This signifies increased borrowings for the company.
- The earnings per share (EPS) for the current quarter is at its lowest in the last five quarters, at Rs -1.27. This indicates declining profitability and lower earnings for shareholders.

Overall, Ginni Filaments has seen a negative financial performance for the quarter ended September 2023. Investors should carefully consider these factors before making any investment decisions.