Premier Synthetics Reports Mixed Financial Results for Q1 2024
Premier Synthetics, a microcap company in the textile industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Premier Synthetics has seen a negative performance in the quarter, with a score of -6. However, this is an improvement from the previous quarter's score of -10.
One positive aspect of the company's financials is its Profit After Tax (PAT) for the quarter, which is the highest in the last five quarters at Rs 0.75 crore. The near-term trend for PAT is also positive.
On the other hand, the company's Net Sales for the quarter have fallen by -40.0% compared to the average of the previous four quarters. The near-term trend for sales is also negative, with the lowest sales of Rs 8.59 crore in the last five quarters. Additionally, the company's Non-Operating Income is 64.53% of its Profit Before Tax (PBT), indicating a high reliance on non-business activities for income, which may not be sustainable in the long run.
Premier Synthetics' financial performance for the quarter ending March 2024 may not be favorable, but the company is taking steps to improve its score and address its challenges. Investors should keep a close eye on the company's future financial reports to make informed decisions.
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