Prime Industries Announces Q1 2024 Financial Results, Receives 'Sell' Call from MarketsMOJO
Prime Industries, a microcap company in the miscellaneous industry, has recently announced its financial results for the quarter ending March 2024. The results, declared on August 14, 2024, have received a 'Sell' call from MarketsMOJO.
According to the financials, Prime Industries has seen a flat performance in the quarter, with a score of -3 compared to -1 in the previous three months. However, there are some positive aspects to the company's financials. The cash and cash equivalents for the half-yearly period are at their highest in the last six periods, standing at Rs 26.01 crore. This indicates an improvement in short-term liquidity for the company.
On the other hand, there are some areas of concern for Prime Industries. The operating profit (PBDIT) for the quarter is at its lowest, standing at Rs -0.12 crore. This has been falling each quarter for the past five quarters, indicating a negative trend in the near term. Similarly, the profit before tax less other income (PBT) for the quarter is also at its lowest, standing at Rs -0.57 crore. This has also been falling each quarter for the past five quarters, indicating a very negative trend in the near term.
Overall, the financial results for the quarter ending March 2024 show a mixed performance for Prime Industries. Investors and stakeholders will have to closely monitor the company's future financials to determine its growth and potential in the market.
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