Prevest Denpro's Q1 Financial Results Show Decline, Receives 'Hold' Call from MarketsMOJO
Prevest Denpro, a microcap company in the medical equipment industry, recently announced its financial results for the quarter ending March 2024. The results, declared on August 8, 2024, have received a 'Hold' call from MarketsMOJO.
The company's financial performance for the quarter has remained flat, with a score of -3 compared to 3 in the previous quarter. This indicates a decline in performance over the last three months.
One of the key factors contributing to this decline is the net sales, which have fallen by 5.3% to Rs 13.36 crore compared to the average net sales of the previous four quarters, which stood at Rs 14.11 crore. This trend in sales is expected to continue in the near term.
The company's profit before tax (PBT) less other income has also seen a decline, reaching its lowest point of Rs 4.04 crore in the last five quarters. This indicates a negative trend in the near term for PBT.
Similarly, the profit after tax (PAT) for the quarter has fallen by 9.0% to Rs 3.67 crore compared to the average PAT of the previous four quarters, which was Rs 4.03 crore. This also suggests a negative trend in the near term for PAT.
Based on these financial results, MarketsMOJO has given a 'Hold' call for Prevest Denpro's stock. Investors are advised to carefully monitor the company's performance in the coming quarters before making any investment decisions.
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