Safari Industries (India) Reports Positive Financial Performance in Q3 2023

Safari Industries (India), a midcap company in the plastic products industry, has recently announced its financial results for the quarter ended December 2023. The company has shown positive performance in this quarter, with a score of 12 out of 14, as compared to the previous quarter.

One of the key highlights of the financial results is the growth in net sales, which has increased by 23.06% year on year to reach Rs 758.32 crore in the first half of the financial year. This indicates a positive trend in the company's sales in the near term. Additionally, the profit after tax (PAT) has also shown a growth of 36.84% year on year, reaching Rs 82.68 crore in the same period. This reflects a positive trend in the company's profitability in the near term.

However, one aspect that may be a cause for concern is the increase in non-operating income, which has reached its highest in the last five quarters at Rs 3.66 crore. This increase in income from non-business activities may not be sustainable in the long run.

MarketsMOJO, a leading financial analysis platform, has given a 'Hold' call for Safari Industries (India) stock based on its financial performance in the quarter ended December 2023. This indicates a neutral stance on the stock and suggests that investors should hold on to their current positions.

Overall, Safari Industries (India) has shown positive financial performance in the quarter ended December 2023, with a growth in net sales and PAT. However, investors should keep an eye on the sustainability of the increase in non-operating income.