Orissa Minerals Reports Strong Financial Performance in Q1 2024, Receives 'Hold' Call from MarketsMOJO

Orissa Minerals Development Company, a midcap company in the miscellaneous industry, has recently declared its financial results for the quarter ended June 2024. The stock has been given a 'Hold' call by MarketsMOJO.

According to the financials, Orissa Minerals has shown a very positive performance in the quarter, with a score of 20 out of 25, which is an improvement from the previous quarter's score of 25.

One of the key highlights of the financial results is the significant growth in net sales, which has increased by 361.87% year on year, reaching Rs 47.85 crore. This indicates a very positive sales trend for the company.

Another positive aspect is the growth in Profit After Tax (PAT), which has increased by 174.87% year on year, reaching Rs 11.41 crore. This also shows a very positive trend for the company's profitability.

Moreover, the company's PAT for the half-year period is higher at Rs 11.41 crore compared to the preceding 12 months ended June 2024, which was at Rs -11.00 crore. This indicates a strong performance in the first half of the year, surpassing the PAT of the entire previous year.

Overall, Orissa Minerals has shown a strong financial performance in the quarter ended June 2024, with positive growth in both net sales and PAT. Investors may want to consider the 'Hold' call by MarketsMOJO and keep an eye on the company's future financial results.