Savita Oil Technologies Faces Challenges as Financial Results Show Declining Profits
Savita Oil Technologies, a smallcap company in the lubricants industry, recently announced its financial results for the quarter ending June 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.
According to the financial report, Savita Oil Tech has seen a negative performance in the quarter, with a score of -8 compared to -10 in the previous quarter. This indicates a slight improvement, but the company is still facing challenges.
One of the major factors contributing to the negative performance is the decrease in Profit Before Tax (PBT) and Profit After Tax (PAT). PBT has fallen by 26.1% compared to the average of the previous four quarters, while PAT has fallen by 20.6%. This trend is expected to continue in the near term.
Another concerning aspect is the high percentage of non-operating income, which accounts for 33.14% of PBT. This means that the company's income from non-business activities is significant, which is not a sustainable business model.
Overall, the financial results for the quarter ending June 2024 show that Savita Oil Technologies is facing challenges and needs to address its declining profits. Investors are advised to hold their stocks for now and monitor the company's performance in the coming quarters.
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