Mukka Proteins' Q1 Financial Results Show Significant Decline in Sales and Profits

Mukka Proteins, a smallcap company in the aquaculture industry, has recently declared its financial results for the quarter ending March 2024. According to the latest report, the company has seen a very negative performance in terms of its financials.

The net sales for the quarter have fallen by 53.2% to Rs 148.42 crore, compared to the average net sales of the previous four quarters which was Rs 317.14 crore. This indicates a very negative trend in the company's sales. Similarly, the profit before tax (PBT) has also fallen by 107.5% to Rs -0.94 crore, compared to the average PBT of the previous four quarters which was Rs 12.46 crore. The profit after tax (PAT) has also seen a decline of 91.6% to Rs 1.32 crore, compared to the average PAT of the previous four quarters which was Rs 15.69 crore.

The company's ability to manage interest payments has also deteriorated, with the operating profit to interest ratio being the lowest in the last five quarters. The interest cost has also increased, indicating a rise in borrowings. The net sales for the quarter have also been the lowest in the last five quarters, and the operating profit has seen a decline as well.

The non-operating income for the quarter is 144.34% of the PBT, which suggests that the company's income from non-business activities is high. This may not be a sustainable business model in the long run. The earnings per share (EPS) for the quarter is also the lowest in the last five quarters, indicating a decline in profitability and lower earnings for shareholders.

Based on these financial results, MarketsMOJO has given a 'Sell' call for Mukka Proteins' stock. It is important for investors to carefully analyze the company's financial performance before making any investment decisions.