Glittek Granites' Financial Results Show Decline in Sales and Profitability

Glittek Granites, a microcap company in the ceramics and allied industry, recently declared its financial results for the quarter ending December 2023. According to the report released on February 13, 2024, the company's stock has been given a 'Hold' call by MarketsMOJO.

The financial performance of Glittek Granites for the quarter has remained flat, with a score of -5 compared to 4 in the previous three months. This indicates a decline in the company's performance.

The company's net sales for the nine-month period ending December 2023 stood at Rs 5.30 crore, showing a negative growth of 29.52% year on year. The near-term sales trend for Glittek Granites is also negative.

Similarly, the company's profit after tax (PAT) for the nine-month period was at Rs -3.10 crore, with a negative growth of 29.52% year on year. The near-term trend for PAT is also negative.

In terms of operating profit (PBDIT), Glittek Granites recorded its lowest figure in the last five quarters at Rs -1.05 crore. The near-term trend for operating profit is also negative.

Based on the financial results for the quarter ending December 2023, it can be observed that Glittek Granites is facing challenges in terms of sales and profitability. Investors are advised to hold their stocks and monitor the company's performance closely.