Laffans Petrochemicals Reports Negative Financial Results for Quarter Ending March 2024
Laffans Petrochemicals, a microcap company in the chemicals industry, 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, Laffans Petrochemicals has seen a negative performance in the quarter, with a score of -8 compared to 10 in the previous quarter. However, there are some positive aspects to the company's financials. The net sales for the nine-month period were higher at Rs 6.06 crore, surpassing the sales of the previous 12 months.
On the other hand, there are some areas of concern for Laffans Petrochemicals. The profit before tax less other income (PBT) for the quarter was at Rs -1.86 crore, a significant decrease of -153.1% compared to the average PBT of the previous four quarters. The profit after tax (PAT) for the quarter was also at a low of Rs -2.51 crore, a decrease of -259.4% compared to the average PAT of the previous four quarters.
The company's operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, and the PBT less other income was also at its lowest in the last five quarters. The earnings per share (EPS) for the quarter were also at a low of Rs -3.14, indicating a decline in profitability and lower earnings for shareholders.
Overall, Laffans Petrochemicals has had a negative financial performance in the quarter ending March 2024. Investors should carefully consider these factors before making any investment decisions.
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