Globus Spirits Reports Negative Performance in Q1 FY25, Interest Cost and PAT Decline
Globus Spirits, a smallcap company in the breweries industry, recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.
According to the financial report, Globus Spirits has seen a negative performance in the quarter, with a score of -11, which has improved from -18 in the last three months. This indicates that the company has faced challenges in the recent quarter.
One of the major factors contributing to this negative performance is the decline in Profit After Tax (PAT). The company’s PAT for the quarter was Rs 16.40 crore, which is a decrease of 32.2% compared to the average PAT of the previous four quarters, which was Rs 24.19 crore. This trend is expected to continue in the near term.
Another concerning aspect is the increase in interest cost. The company’s interest expenses for the quarter were Rs 8.26 crore, which is a growth of 30.90% compared to the previous quarter. This rise in interest cost indicates that the company has taken on more borrowings.
In fact, this is the highest interest cost in the last five quarters and has increased by 30.90% compared to the previous quarter. This is a cause for concern as it signifies an increase in the company’s debt.
Overall, the financial results for the quarter ending June 2024 have not been favorable for Globus Spirits. However, the company remains optimistic about its future performance and is taking steps to improve its financials. Investors are advised to hold their positions in the company’s stock for now.
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