Primo Chemicals Reports Mixed Financial Results for Q1 2024, Receives 'Strong Sell' Rating
Primo Chemicals, a microcap company in the chemicals industry, recently announced its financial results for the quarter ending March 2024. The results, declared on May 30, 2024, have received a 'Strong Sell' rating from MarketsMOJO.
According to the financials, Primo Chemicals has seen a very negative performance in the quarter, with a score of -21. However, this is an improvement from the previous quarter's score of -35.
One positive aspect for Primo Chemicals is its Profit After Tax (PAT) for the quarter, which has shown a growth of 291.4% compared to the average PAT of the previous four quarters. This indicates a very positive trend in the near term.
On the other hand, the company's Profit Before Tax less Other Income (PBT) has fallen by -270.4% compared to the average PBT of the previous four quarters. This is a very negative trend in the near term. Additionally, the Net Sales for the quarter have also fallen by -7.3% compared to the average Net Sales of the previous four quarters, indicating a negative sales trend in the near term.
One concerning aspect for Primo Chemicals is its interest cost, which has increased by 15.37% (QoQ) and is the highest in the last five quarters. This signifies increased borrowings for the company.
Overall, Primo Chemicals has had a mixed financial performance in the quarter ending March 2024. Investors should carefully consider these factors before making any investment decisions.
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