Kranti Industries Reports Negative Financial Performance in Q1 2024
Kranti Industries, a microcap company in the auto ancillary industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' call by MarketsMOJO.
According to the financial report, Kranti Industries has seen a negative performance in the quarter, with a score of -9 compared to -14 in the previous quarter. This indicates a slight improvement, but the company is still facing challenges.
One of the major factors affecting the company's performance is the decline in Profit After Tax (PAT). The quarterly PAT of Rs 0.38 crore has fallen by 49.3% compared to the average PAT of the previous four quarters, which was Rs 0.75 crore. This trend is expected to continue in the near term.
Another concerning aspect is the significant increase in interest costs. In the last quarter, the company's interest expenses were Rs 1.04 crore, which is a staggering 103,999,900% increase from the previous quarter. This indicates that the company has taken on more borrowings, which could impact its financial stability.
Moreover, the company's net sales have also seen a decline of 5.8% compared to the average net sales of the previous four quarters. This is a cause for concern as it shows a negative trend in the company's sales performance.
In conclusion, Kranti Industries has reported a negative financial performance in the quarter ending March 2024. The company's stock has been given a 'Strong Sell' call, indicating that investors should be cautious. The company's declining PAT, rising interest costs, and falling net sales are some of the factors contributing to its current financial situation.
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