Reliance Chemotex Industries Announces Q1 Financial Results, Receives 'Sell' Rating from MarketsMOJO
Reliance Chemotex Industries, a microcap company in the textile industry, recently announced its financial results for the quarter ending March 2024. The results, declared on May 24, have received a 'Sell' call from MarketsMOJO.
According to the financial report, Reliance Chemotex has shown a flat performance in the quarter, with a score of 0 compared to -13 in the previous three months. However, there are some positive aspects to the company's performance.
One of the highlights is the net sales for the quarter, which have been the highest in the last five quarters at Rs 102.27 crore. This indicates a positive trend in the company's sales in the near term.
On the other hand, the non-operating income for the quarter is 95.97% of the profit before tax (PBT). This suggests that the company's income from non-business activities is high, which may not be a sustainable business model.
Overall, Reliance Chemotex's financial performance for the quarter ending March 2024 has been mixed. Investors should carefully consider all aspects before making any investment decisions.
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