Hemang Resources Reports Mixed Financial Results
Hemang Resources, a microcap trading company, has recently announced its financial results for the quarter ended September 2023. The company's net sales have shown a growth of 21.95% quarter-on-quarter, a significant improvement from the previous quarter's decline of 35.75%. However, the standalone net profit has decreased by 6.26% compared to the previous quarter's decline of 693.20%.
The company's operating profit (PBDIT) excluding other income has also shown a decline of 21.68% quarter-on-quarter, a slight improvement from the previous quarter's decline of 1,080.00%. The interest has remained stable at 0.00% quarter-on-quarter, a positive sign for the company.
Despite these improvements, Hemang Resources has seen a very negative financial performance in the quarter ended September 2023. The company's overall score has improved from -29 to -25 in the last three months, indicating some progress but still a cause for concern.
The company's net sales have fallen by 25.8% compared to the average net sales of the previous four quarters, indicating a negative sales trend in the near term. The profit before tax (PBT) has also shown a significant decline of 739.9% compared to the average PBT of the previous four quarters. The company's operating cash flow has also been consistently negative in the last three years.
Moreover, the operating profit and PBT have been at their lowest in the last five quarters, indicating a negative trend in the company's profitability. The earnings per share (EPS) have also shown a decline, creating lower earnings for shareholders.
In conclusion, Hemang Resources has shown some improvement in its financial performance in the quarter ended September 2023, but the overall trend is still negative. Investors should carefully consider these factors before making any investment decisions.
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