Somi Conveyor Beltings Shows Strong Financial Growth in Q1 of 2024
Somi Conveyor Beltings, a microcap company in the rubber products industry, has recently announced its financial results for the quarter ending March 2024. According to the data released on May 30, 2024, the company has shown a positive performance in this quarter.The financial score for Somi Conveyor Beltings has improved from 0 to 10 in the last three months, indicating a significant growth in its financials. This growth can be attributed to the following factors based on the March 2024 financials:
- Profit Before Tax less Other Income (PBT) - Quarterly: The PBT for this quarter stands at Rs 2.50 crore, which is a growth of 80.5% compared to the average PBT of the previous four quarters, which was Rs 1.39 crore. This shows a very positive trend in the near term for PBT.
- Net Sales - Quarterly: The net sales for this quarter were Rs 38.44 crore, which is a growth of 50.1% compared to the average net sales of the previous four quarters, which was Rs 25.62 crore. This also indicates a very positive trend in the near term for sales.
- Profit After Tax (PAT) - Quarterly: The PAT for this quarter stands at Rs 1.88 crore, which is a growth of 62.1% compared to the average PAT of the previous four quarters, which was Rs 1.16 crore. This further reinforces the positive trend in the near term for PAT.
- Operating Profit (PBDIT) - Quarterly: The operating profit for this quarter is the highest in the last five quarters at Rs 3.31 crore. This also shows a positive trend in the near term for operating profit.
- Profit Before Tax less Other Income (PBT) - Quarterly: Similarly, the PBT for this quarter is also the highest in the last five quarters at Rs 2.50 crore, indicating a positive trend in the near term.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Somi Conveyor Beltings' stock. However, it is important to note that this is not a recommendation and is solely based on the financial data of the company. Investors are advised to do their own research and analysis before making any investment decisions.
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