Trigyn Technologies announces flat financial results for Q2, with some positive indicators

Trigyn Technologies, a microcap IT software company, recently announced its financial results for the quarter ending June 2024. According to MarketsMOJO, the stock call for Trigyn Technologies is 'Hold'.

The company's financial performance for the quarter has remained flat, with a score of 0 compared to 7 in the previous quarter. However, there are some positive aspects to the company's financials. The Profit After Tax (PAT) for the quarter has grown by 52.9% to Rs 7.61 crore, which is higher than the average PAT of the previous four quarters at Rs 4.98 crore. This indicates a positive trend in the near term.

Trigyn Technologies has also shown improvement in its Debtors Turnover Ratio, with the highest ratio of 5.14 times in the last five half-yearly periods. This shows that the company has been able to settle its debtors faster. Additionally, the company's Cash and Cash Equivalents have also increased to Rs 336.18 crore in the last six half-yearly periods, indicating an improvement in short-term liquidity.

However, there are some areas of concern for Trigyn Technologies. The Net Sales for the quarter have fallen by -24.1% to Rs 242.93 crore, which is lower than the average Net Sales of the previous four quarters at Rs 319.92 crore. This shows a negative trend in the near term. The Non-Operating Income for the quarter is also high at 35.92% of the Profit Before Tax (PBT), indicating that the company's income from non-business activities is not sustainable. The Non-Operating Income has also increased to Rs 4.26 crore in the last five quarters, which may not be sustainable in the long run.

Overall, Trigyn Technologies has shown mixed results in its financial performance for the quarter ending June 2024. While there are some positive aspects, there are also areas of concern that need to be addressed. Investors are advised to hold their position in the company's stock and monitor its performance closely.