IFB Agro Industries Reports Negative Financial Results for Q1 2024
IFB Agro Industries, a microcap company in the breweries industry, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, IFB Agro Inds. has seen a negative performance in the quarter, with a score of -17, which is an improvement from the previous quarter's score of -24. This indicates that the company's financial health has deteriorated in the last three months.
The report highlights several areas where IFB Agro Inds. is struggling. The Profit Before Tax less Other Income (PBT) for the quarter was at Rs -12.55 crore, a significant decrease of 211.85% compared to the same quarter last year. The Profit After Tax (PAT) also saw a decline of 127.9% year on year, with a value of Rs -2.83 crore. The company's Operating Profit (PBDIT) has been consistently falling in the last five quarters, with the lowest value of Rs -6.26 crore in the current quarter. This trend is expected to continue in the near term.
The Operating Profit Margin for the quarter was at its lowest at -2.90%, indicating a decline in the company's efficiency. The Profit Before Tax less Other Income (PBT) has also been consistently falling in the last five quarters, with the lowest value of Rs -12.55 crore in the current quarter. The company's Net Sales for the quarter were at its lowest in the last five quarters, with a value of Rs 216.05 crore. This indicates a negative trend in the company's sales performance.
The report also mentions that the company's Non Operating Income was at its highest in the last five quarters, with a value of Rs 7.31 crore. However, this increase in income from non-business activities may not be sustainable.
Overall, the financial results for the quarter ending March 2024 show a negative trend for IFB Agro Industries. Investors are advised to carefully consider these factors before making any investment decisions.
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