Nagreeka Exports Reports Flat Performance in Q1, Net Sales Show Positive Trend

Aug 14 2024 10:33 AM IST
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Nagreeka Exports, a microcap trading company, has reported its financial results for the quarter ending March 2024. The company's net sales have shown a positive trend, with a growth of 22.7% over the average of the previous four quarters. However, there are concerns regarding increased interest cost and a decline in profit after tax. MarketsMojo has given a 'Hold' call for the company's stock.

Nagreeka Exports, a microcap trading company, has recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, Nagreeka Exports has seen a flat performance in the quarter, with a score of -2 compared to 6 in the previous quarter. However, there are some positive aspects to the company's performance. The net sales for the quarter were the highest in the last five quarters at Rs 171.45 crore, with a positive trend in the near term. Additionally, the net sales have grown by 22.7% over the average of the previous four quarters, indicating a positive sales trend.

On the other hand, there are some areas of concern for Nagreeka Exports. The interest cost for the quarter has increased by 33.61% compared to the previous quarter, indicating a rise in borrowings. Moreover, the profit after tax (PAT) for the quarter has fallen by -8.0% compared to the average of the previous four quarters. This suggests a negative trend in the near term for the company's PAT.

Overall, Nagreeka Exports has shown a mixed performance in the quarter ending March 2024. Investors are advised to hold their positions in the company's stock, as per the recommendation by MarketsMOJO.
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