Prozone Realty Reports Negative Financial Results for Q1 2024

Prozone Realty, a microcap real estate company, recently announced its financial results for the quarter ending March 2024. The company's performance has been deemed negative, with a score of -16 compared to -8 in the previous quarter.

One of the major factors contributing to this decline is the Profit Before Tax (PBT) less Other Income, which has fallen by -430.4% to Rs -7.89 crore. This is significantly lower than the average PBT of the previous four quarters, which was Rs -1.49 crore. The trend for PBT in the near term is also negative.

Similarly, the Profit After Tax (PAT) has also seen a sharp decline of -274.4% to Rs -5.27 crore, compared to the average PAT of Rs 3.02 crore in the previous four quarters. The company's ability to manage interest payments has also deteriorated, with the Operating Profit to Interest ratio at its lowest in the last five quarters.

In terms of sales, Prozone Realty has seen a negative trend with a -21.11% Year on Year (YoY) growth in net sales, which stood at Rs 92.96 crore for the half-yearly period. The Operating Profit (PBDIT) has also hit its lowest at Rs 6.10 crore in the last five quarters, indicating a negative trend in the near term.

The company's efficiency has also taken a hit, with the Operating Profit Margin at its lowest of 11.83% in the last five quarters. The declining profitability is reflected in the lowest Earnings per Share (EPS) of Rs -0.35 in the last five quarters.

Overall, Prozone Realty's financial performance for the quarter ending March 2024 has been deemed negative, with a 'Strong Sell' stock call by MarketsMOJO. The company's profitability has declined, and its efficiency and ability to manage interest payments have also deteriorated.