IST's Q3 financial report shows mixed results, with positive sales trend but rising interest expenses
IST, a smallcap auto ancillary company, 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, IST's performance for the quarter was flat, with a score of -1 compared to -2 in the previous quarter. However, there are some positive aspects to the company's financials. IST's net sales for the quarter were the highest in the last five quarters at Rs 30.68 crore, indicating a positive trend in sales. Additionally, the company's profit after tax (PAT) for the quarter was Rs 47.12 crore, showing a growth of 32.9% compared to the average PAT of the previous four quarters.
On the other hand, there are some areas of concern for IST. The company's interest expenses for the half-yearly period have increased by 86.03%, indicating a rise in borrowings. Furthermore, IST's operating cash flow for the year was the lowest in the last three years at Rs 5.39 crore, indicating a decline in cash revenues from business operations. Additionally, the company's non-operating income for the quarter was 69.98% of its profit before tax, which is not a sustainable business model.
Overall, IST's financial performance for the quarter has been mixed, with some positive and negative aspects. Investors should carefully consider these factors before making any investment decisions.
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