Quarterly Results Show Mixed Performance for Ashiana Housing in June 2024

Ashiana Housing, a smallcap real estate company, has recently declared its financial results for the quarter ended June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financials, Ashiana Housing has shown a flat performance in the quarter, with a score of 0 compared to 31 in the previous quarter. However, there are some positive aspects to the company's performance. The net sales for the half-yearly period have grown by 77.33% year on year, indicating a strong sales trend. The inventory turnover ratio is also at its highest in the last five half-yearly periods, showing that the company has been able to sell its inventory faster. Additionally, the company's cash and cash equivalents have also increased, improving its short-term liquidity.

On the other hand, there are some areas where Ashiana Housing needs to improve. The profit before tax less other income has fallen by 299% year on year, and the profit after tax has also decreased by 150.1% year on year. The operating profit and operating profit margin are at their lowest in the last five quarters, indicating a decline in efficiency. The earnings per share have also decreased, creating lower earnings for shareholders.

Overall, Ashiana Housing's financial performance for the quarter ended June 2024 has been mixed. While there are some positive aspects, there are also areas that need improvement. Investors are advised to hold their position in the company's stock and keep an eye on its future performance.