Minaxi Textiles Declares Q3 Financial Results

Minaxi Textiles, a microcap company in the textile industry, has recently declared its financial results for the quarter ended September 2023. The company's net sales for the quarter showed a decline of 14.40% compared to the previous quarter, while the standalone net profit saw a significant decrease of 152.38%. The operating profit (PBDIT) excluding other income also saw a decline of 53.19% in the quarter.

Despite the decrease in financial performance, Minaxi Textiles has shown a flat score in the last three months. This indicates that the company's performance has remained stable. However, the operating profit margin (excluding other income) has fallen from the previous quarter.

On a positive note, the company's half-yearly profit after tax (PAT) has shown an improvement, with a higher amount of Rs 0.30 crore compared to the preceding 12-month period ended September 2023, which was at Rs -6.21 crore. This indicates that the company has already surpassed its previous year's PAT in just half a year.

MarketsMOJO has given a 'Strong Sell' call for Minaxi Textiles' stock, based on its financial results for the quarter. This suggests that investors should be cautious while investing in the company's stock. However, it is important to note that this is not a recommendation from experts or investors, but rather a fact-based analysis of the company's financial performance.