Indian Card Clothing Company Reports Negative Performance in Q1 2024
Indian Card Clothing Company, a microcap textile machinery company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Indian Card Clothing Company has seen a negative performance in the quarter, with a score of -10, which has improved from -13 in the last three months. This indicates a downward trend in the company's financials.
One of the major factors contributing to this negative performance is the Profit Before Tax (PBT) less Other Income, which has fallen by -150.80% year on year, standing at Rs -4.69 crore. The net sales for the quarter have also decreased by -18.25% year on year, at Rs 12.27 crore. This trend is expected to continue in the near term.
The company's Profit After Tax (PAT) for the half-yearly period has also shown a negative growth of -22.50% year on year, at Rs 0.69 crore. Additionally, the net sales for the quarter have been the lowest in the last five quarters, indicating a negative trend in the company's sales.
The Operating Profit (PBDIT) for the quarter has also been the lowest in the last five quarters, at Rs -3.08 crore. This shows a negative trend in the company's operating profit. The Operating Profit Margin for the quarter has also been the lowest in the last five quarters, at -25.10%, indicating a decline in the company's efficiency.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Indian Card Clothing Company. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO, suggesting caution for potential investors.
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