Utique Enterprises Reports Decline in Financial Performance for Q1 2024
Utique Enterprises, a microcap finance company, reported a flat performance in the quarter ending March 2024 with a score of -4, a decline from the previous quarter. Net sales and profit after tax have also shown a significant decline, indicating a negative trend for the company's financials. Investors should take note before making any investment decisions.
Utique Enterprises, a microcap finance company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.According to the financial report, Utique Enterprises has seen a flat performance in the quarter, with a score of -4, which is a decline from the previous quarter's score of -2. This indicates that the company's financials have not shown any significant improvement in the last three months.
One of the major factors contributing to this decline is the net sales, which have decreased by 39.72% year on year, standing at Rs 18.41 crore. The near-term trend for sales is also negative, which is a cause for concern.
Similarly, the company's profit after tax (PAT) has also shown a decline of 39.72% year on year, with a total of Rs -0.42 crore. The near-term trend for PAT is also negative, indicating that the company's profitability has been affected.
Overall, the financial results for the quarter ending March 2024 have not been favorable for Utique Enterprises. Investors should carefully consider these factors before making any investment decisions.
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