Palred Technologies Reports Negative Financial Results for Q1 FY25, But Shows Improving Liquidity
Palred Technologies, a microcap IT software company, recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Strong Sell’ call by MarketsMOJO.
According to the financial report, Palred Technologies has seen a negative performance in the quarter, with a score of -10, which has improved from -12 in the last three months. However, there are some positive aspects to the company’s financials.
One of the strengths of Palred Technologies is its cash and cash equivalents, which have been the highest in the last six half-yearly periods at Rs 52.50 crore. This shows that the company’s short-term liquidity is improving.
On the other hand, there are some areas that need improvement for Palred Technologies. The company’s net sales for the quarter were at Rs 19.32 crore, which is a decrease of -33.4% compared to the average net sales of the previous four quarters at Rs 29.00 crore. This indicates a negative trend in near-term sales.
Additionally, the company’s profit after tax (PAT) for the nine-month period was at Rs -4.29 crore, showing a decline of -36.68% year on year. This suggests a negative trend in near-term PAT.
Overall, Palred Technologies has had a challenging quarter, with a negative financial performance. However, the company’s strong cash position and improving short-term liquidity are positive signs for its future. Investors should keep an eye on the company’s progress in the coming months.
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