Starteck Finance's Q2 2024 Financial Report Shows Negative Performance, Receives 'Sell' Rating.
Starteck Finance, a microcap finance company, recently declared its financial results for the quarter ending June 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Starteck Finance has seen a negative performance in the quarter, with a score of -12 compared to 7 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, profit before tax, and profit after tax.
The company's net sales for the quarter were at Rs 7.02 crore, which is a decrease of 24.8% compared to the average net sales of the previous four quarters. This indicates a negative trend in the company's sales in the near term.
Similarly, the profit before tax less other income (PBT) for the quarter was at Rs 1.70 crore, a significant decrease of 62.6% compared to the average PBT of the previous four quarters. The profit after tax (PAT) for the quarter was also at Rs 1.71 crore, a decrease of 57% compared to the average PAT of the previous four quarters.
Moreover, the PBT for the quarter was the lowest in the last five quarters, indicating a negative trend in the company's profitability in the near term. The earnings per share (EPS) for the quarter were also at its lowest in the last five quarters, at Rs 1.73. This shows a decline in the company's profitability and lower earnings for shareholders.
Overall, Starteck Finance's financial performance for the quarter ending June 2024 has been negative, as reported by MarketsMOJO. The company's stock has been given a 'Sell' call, and investors should carefully consider this information before making any investment decisions.
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