Orissa Bengal Carrier's Financial Results: Q3 2023

Orissa Bengal Carrier, a microcap logistics company, recently announced its financial results for the quarter ended September 2023. The stock call by MarketsMOJO for the company is 'Hold'.

In the quarter ended September 2023, Orissa Bengal saw a 15.30% growth in net sales compared to a -3.20% growth in the previous quarter. However, the standalone net profit saw a decline of -5.80% compared to a significant growth of 140.67% in the previous quarter. The operating profit (PBDIT) excluding other income also saw a decline of -1.29% compared to a growth of 150.66% in the previous quarter. Interest expenses also saw a significant increase of 118.18% compared to a decline of -21.43% in the previous quarter. The operating profit margin (excluding other income) also saw a decline from the previous quarter.

Despite the flat financial performance in the quarter, Orissa Bengal has seen an improvement in its overall score from -9 to -5 in the last 3 months. The company has shown a higher profit after tax (PAT) of Rs 4.02 crore in the half-yearly period, compared to the preceding 12 months ended September 2023 of Rs 3.67 crore.

However, there are some areas that are not working for Orissa Bengal based on its September 2023 financials. The profit before tax (PBT) less other income has fallen by -46.43% year on year (YoY) at Rs 2.25 crore. The net sales have also seen a decline of -12.28% YoY at Rs 90.41 crore. The half-yearly PAT has also seen a negative growth of -36.89% YoY at Rs 4.02 crore. These trends suggest a negative near-term outlook for the company.