Jay Shree Tea's Q3 Financial Results Disappoint
Jay Shree Tea & Industries, a microcap company in the tea/coffee industry, recently announced its financial results for the quarter ended September 2023. The company's net sales for the quarter showed a growth of 31.34% compared to the previous quarter, while the consolidated net profit saw a decline of 29.49%. The operating profit (PBDIT) excluding other income also showed a significant growth of 398.51% in the quarter.
However, the company's interest expenses increased by 17.04% in the quarter, indicating a rise in borrowings. The operating profit margin (excluding other income) also improved compared to the previous quarter.
Despite the positive growth in net sales and operating profit, Jay Shree Tea's financial performance for the quarter was not up to par. The company's profit before tax (PBT) and profit after tax (PAT) both saw a significant decline of 63.23% and 56.9% respectively, compared to the same quarter last year. The company's operating cash flow has also been consistently falling in the last three years.
Moreover, the company's dividend payout ratio (DPR) has been at its lowest in the last five years, indicating a lower distribution of profits as dividends. Overall, the financial results for the quarter ended September 2023 show a negative trend for Jay Shree Tea & Industries.
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