Davangere Sugar Company Reports Decline in Financial Performance for Q1 FY 25
Davangere Sugar Company, a microcap company in the sugar industry, recently announced 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, Davangere Sugar has seen a negative performance in the quarter, with a score of -11 compared to -8 in the previous quarter. This indicates a decline in the company’s overall financial health.
One of the major factors contributing to this decline is the Profit Before Tax (PBT) which has fallen by 49.6% to Rs 1.01 crore compared to the average PBT of the previous four quarters which was Rs 2.00 crore. This trend is expected to continue in the near term.
Similarly, the Profit After Tax (PAT) has also seen a significant decline of 69.3% to Rs 0.94 crore compared to the average PAT of Rs 3.06 crore in the previous four quarters. This indicates a negative trend in the company’s profitability.
The Net Sales for the quarter have also fallen by 15.8% to Rs 45.57 crore compared to the average Net Sales of Rs 54.13 crore in the previous four quarters. This shows a decline in the company’s sales performance in the near term.
Overall, the financial results for the quarter ending June 2024 have not been favorable for Davangere Sugar Company. Investors are advised to take note of the negative trends and make informed decisions regarding their investments in the company’s stock.
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