Innovative Tech Pack Announces Q1 Financial Results, Shows Growth in Profits and Sales
Innovative Tech Pack, a microcap company in the plastic products industry, 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, Innovative Tech's performance for the quarter has been flat, with a score of -1 compared to 4 in the previous quarter. However, there are some positive aspects to the company's financials. The Profit After Tax (PAT) for the nine-month period is higher at Rs 0.80 crore compared to the preceding 12-month period of Rs -1.00 crore. This indicates a growth in profits for the company.
Moreover, in the nine-month period, Innovative Tech has already surpassed its sales from the previous 12 months. This shows a positive trend in the company's sales performance.
On the other hand, the company's net sales for the quarter have fallen by -10.88% year on year, at Rs 34.82 crore. This is a cause for concern as it indicates a negative trend in the company's sales in the near term.
Overall, while Innovative Tech's financial performance for the quarter may not be impressive, there are some positive signs for the company's future growth. Investors should keep a close eye on the company's sales performance in the coming months.
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