Mid India Industries' Financial Results Show Decline, Receives 'Strong Sell' Rating
Mid India Industries, a microcap textile company, recently announced its financial results for the quarter ending December 2023. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.According to the financial report, Mid India Industries has shown a flat performance in the quarter, with a score of -5, which is an improvement from the previous quarter's score of -8. However, there are some areas that are not performing well for the company.
One of the major concerns is the net sales, which have decreased by -50.97% year on year, standing at Rs 5.32 crore. The near-term sales trend is also negative, indicating a decline in sales for the company.
The operating profit (PBDIT) for the quarter is at its lowest in the last five quarters, standing at Rs -0.10 crore. The near-term trend for operating profit is also negative, indicating a decrease in profitability for the company.
Similarly, the profit before tax less other income (PBT) for the quarter is also at its lowest in the last five quarters, standing at Rs -0.15 crore. The near-term trend for PBT is also negative, indicating a decline in the company's overall profitability.
Based on these financial results, MarketsMOJO has given a 'Strong Sell' rating for Mid India Industries' stock. Investors should carefully consider these factors before making any investment decisions.
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