Uttam Sugar Mills Reports Negative Performance in Q1, MarketsMOJO Gives 'Sell' Call
Uttam Sugar Mills, a smallcap company in the sugar industry, has reported a negative performance in the quarter ending March 2024. The company's PBT and PAT have decreased by 39.43% and 39.8% respectively, while net sales have fallen by 11.81%. Interest costs have also increased, leading to a 'Sell' call from MarketsMojo.
Uttam Sugar Mills, a smallcap company in the sugar industry, recently declared its financial results for the quarter ending March 2024. According to the report, the company has seen a negative performance in this quarter, with a score of -10 compared to 15 in the previous three months.
The company's Profit Before Tax (PBT) has fallen by 39.43% Year on Year (YoY) to Rs 54.88 crore, indicating a very negative trend in the near term. Similarly, the Profit After Tax (PAT) has also decreased by 39.8% YoY to Rs 42.14 crore, further highlighting the negative trend in the company's financials.
The Net Sales for the quarter have also fallen by 11.81% YoY to Rs 465.15 crore, indicating a very negative sales trend in the near term. Additionally, the company's interest cost has increased by 121.99% Quarter on Quarter (QoQ) to Rs 16.76 crore, which could signify increased borrowings.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Uttam Sugar Mills' stock. The company's performance in this quarter has not been favorable, and investors may want to consider this before making any investment decisions.
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