Are HMA Agro Inds. latest results good or bad?

HMA Agro Industries has reported its financial results for the quarter ending March 2025, highlighting several key trends. The company's net sales reached Rs 1,499.56 crore, representing the highest figure in the last five quarters and indicating a positive near-term sales trend with a quarter-on-quarter growth of 3.06%. However, the Profit After Tax (PAT) for the quarter was Rs 13.22 crore, which reflects a notable decline of 29% compared to the average PAT of Rs 18.62 crore from the previous four quarters, suggesting challenges in profitability.
Additionally, the Profit Before Tax (PBT) fell to Rs -12.51 crore, marking the lowest level in the last five quarters, which further emphasizes the difficulties faced by the company in maintaining operational profitability. The reliance on non-operating income was significant, with Rs 33.34 crore reported, constituting 160.06% of the PBT, raising concerns about the sustainability of HMA Agro's income model.

Moreover, the company saw an adjustment in its evaluation over the past three months. Overall, while there are some positive indicators in sales, the decline in profitability metrics and the high dependence on non-operating income suggest a complex financial landscape for HMA Agro Industries.