Mangalam Industrial Finance Shows Promising Improvement in Financial Results for Q1 2024
Mangalam Industrial Finance, a microcap finance company, has recently announced its financial results for the quarter ended March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.According to the financial report, Mangalam Industrial Finance has shown a flat performance in the quarter, with a score of 2 out of 5. However, this is an improvement from the previous quarter's score of 1.
One of the positive highlights from the financial results is the company's Profit After Tax (PAT) for the half-yearly period. The PAT for this period is at Rs 0.05 crore, which is higher than the preceding 12-month period ended March 2024, where the company had a PAT of Rs -4.63 crore. This indicates a significant improvement in the company's financial performance.
In fact, in just the first half of the financial year, Mangalam Industrial Finance has already surpassed its PAT for the entire previous year. This is a promising sign for the company and its investors.
While MarketsMOJO has given a 'Sell' call for the company's stock, the financial results show some positive developments for Mangalam Industrial Finance. It will be interesting to see how the company performs in the upcoming quarters and if it can continue to improve its financials.
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