Mercantile Ventures Reports Positive Sales Growth, But Decline in Profit for Q2 2024
Mercantile Ventures, a microcap finance company, has recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Sell' call by MarketsMOJO.
According to the financial report, Mercantile Ventures has shown positive performance in the second quarter of the fiscal year 2024-2025. However, the company's overall score has decreased from 22 to 9 in the last three months.
One of the key highlights of the financial report is the increase in net sales, which reached its highest at Rs 17.84 crore in the last five quarters. This indicates a positive trend in the company's sales in the near term. Additionally, the company's cash and cash equivalents have also shown improvement, reaching its highest at Rs 63.16 crore in the last six half-yearly periods.
On the other hand, the company's profit after tax (PAT) for the quarter has fallen by 42.6% year on year, standing at Rs 0.81 crore. This indicates a negative trend in the company's near term PAT. Moreover, the non-operating income for the quarter is 85.25% of the profit before tax (PBT), which suggests that the company's income from non-business activities is high and may not be a sustainable business model.
Overall, Mercantile Ventures has shown a mixed performance in the quarter ending September 2024. Investors are advised to carefully evaluate the company's financials before making any investment decisions.
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