Parsvnath Developers Reports Negative Financial Performance in Q2 2024

Parsvnath Developers, a microcap real estate company, recently declared its financial results for the quarter ending June 2024. According to the report, the company has seen a negative financial performance with a score of -17, which has improved from -20 in the last three months.

One of the major factors contributing to this decline is the rising interest cost, which has grown by 159.69% over the previous half-yearly period. This signifies an increase in borrowings for the company. Additionally, the net sales for the quarter have fallen by -23.8% compared to the average net sales of the previous four quarters. This indicates a negative trend in sales for the company in the near term.

Moreover, the profit after tax (PAT) for the half-yearly period has also seen a decline of -47.57% year on year (YoY). This further highlights the negative trend in the company's financial performance.

Another concerning aspect is the debt-equity ratio, which is at its highest at -1.91 times and has grown each half-yearly period in the last five years. This suggests that the company is relying heavily on borrowing to fund its operations, which may lead to a stressed liquidity situation.

Considering these factors, MarketsMOJO has given a 'Sell' call for Parsvnath Developers' stock. Investors should carefully evaluate the company's financial performance before making any investment decisions.