Glittek Granites' Q1 Financial Report Shows Decline, Receives 'Sell' Rating
Glittek Granites, a microcap company in the ceramics and allied industry, has recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Glittek Granites has shown a flat performance in the quarter, with a slight improvement in its score from -12 to -4 in the last three months. However, there are some concerning factors that have affected the company's financials.
One of the major issues is the operating profit (PBDIT), which has been consistently falling in the last five quarters and is currently at its lowest at Rs -2.63 crore. This trend is expected to continue in the near term, indicating a negative outlook for the company's profitability.
Another concerning factor is the profit before tax (PBT) less other income, which has also been on a downward trend and is currently at its lowest at Rs -3.10 crore. This indicates a negative trend in the company's overall financial performance.
Furthermore, the earnings per share (EPS) for the quarter is also at its lowest at Rs -1.21, showing a decline in profitability and lower earnings for shareholders.
Overall, Glittek Granites' financial performance for the quarter ending March 2024 has not been impressive, and the company's stock has been given a 'Sell' call by MarketsMOJO. Investors should carefully consider these factors before making any investment decisions.
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