Protean eGov Technologies Reports Negative Performance in Q1 FY25

Protean eGov Technologies, a midcap IT software company, has recently declared its financial results for the quarter ending June 2024. The company has seen a negative performance in this quarter, with a score of -13 compared to -12 in the previous quarter.

According to the financials, the company’s Profit Before Tax (PBT) has fallen by 48% to Rs 7.84 crore, compared to the average PBT of the previous four quarters which was Rs 15.07 crore. This indicates a very negative trend in the near term for PBT. Similarly, the Net Sales for the quarter have also fallen by 10.9% to Rs 196.54 crore, compared to the average Net Sales of the previous four quarters which was Rs 220.51 crore. The company’s Profit After Tax (PAT) has also seen a decline of 15.2% to Rs 21.09 crore, compared to the average PAT of the previous four quarters which was Rs 24.88 crore.

Moreover, the company’s Net Sales for the quarter are the lowest in the last five quarters, indicating a negative trend in the near term. Additionally, the Non Operating Income for the quarter is 71.07% of the PBT, which suggests that the company’s income from non-business activities is high and may not be a sustainable business model.

Based on these financial results, MarketsMOJO has given a ‘Sell’ call for Protean eGov’s stock. It is important for investors to carefully consider these financials before making any investment decisions.