GP Petroleums Reports Decline in Financial Performance for Q3 2024.
GP Petroleums, a microcap company in the lubricants industry, recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, GP Petroleums has seen a negative performance in the quarter, with a score of -17 compared to 5 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, profit before tax, and profit after tax.
The company's net sales for the quarter were at Rs 125.11 crore, which is a significant decrease of 22.3% compared to the average net sales of the previous four quarters. This trend is expected to continue in the near term.
Similarly, the profit before tax (PBT) and profit after tax (PAT) have also seen a decline of 34.0% and 33.7%, respectively, compared to the average of the previous four quarters. This indicates a negative trend in the company's financial performance.
GP Petroleums also reported its lowest net sales and operating profit in the last five quarters. The PBT and EPS were also at their lowest in the same period, showing a decline in profitability and earnings for shareholders.
The company's cash and cash equivalents have also decreased, with only Rs 0.03 crore in the last six half-yearly periods. Additionally, the debtors turnover ratio has slowed down, indicating a delay in settling debts.
Overall, GP Petroleums has seen a negative financial performance in the quarter ending September 2024. Investors should carefully consider these factors before making any decisions regarding the company's stock.
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