Kenvi Jewels Reports Strong Financial Results for Quarter Ending March 2024
The quarter ending March 2024 has brought positive news for Kenvi Jewels, a microcap company in the jewellery industry. The company has declared its financial results for the quarter, which have been deemed as strong by MarketsMOJO, with a 'Strong Sell' stock call.According to the financials, Kenvi Jewels has shown a significant improvement in its score, rising from 11 to 13 in the last three months. This is a result of their net sales for the half-yearly period, which have grown by 140.32% year on year, reaching Rs 121.41 crore. This is a very positive trend for the company.
Moreover, the half-yearly net sales of Rs 121.41 crore are higher than the previous 12-month period ending in March 2024, which was at Rs 103.70 crore. This shows that in just six months, Kenvi Jewels has already surpassed its sales from the entire previous year.
In terms of profits, the company has also seen a growth. The half-yearly profit after tax (PAT) stands at Rs 0.67 crore, which is higher than the previous 12-month period ending in March 2024, which was at Rs 0.65 crore. This means that in just six months, Kenvi Jewels has already exceeded its profits from the entire previous year.
However, there are some areas that need improvement for Kenvi Jewels. The quarterly profit before tax less other income (PBT) is at its lowest in the last five quarters, at Rs 0.11 crore. This shows a negative trend in the near term for the company.
Overall, the financial results for the quarter ending March 2024 have been positive for Kenvi Jewels, with a significant growth in net sales and profits. However, the company will need to address the declining trend in PBT to maintain its strong performance in the future.
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