Mercantile Ventures Reports Mixed Financial Results for Q1 2024
Mercantile Ventures, a microcap finance company, recently announced its financial results for the quarter ending March 2024. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.
According to the financial report, Mercantile Ventures has seen a negative performance in the quarter, with a score of -8 compared to 14 in the previous quarter. However, there are some positive aspects to the company's financials.
One of the highlights is the net sales for the half-yearly period, which has shown a growth of 23.46% year on year, reaching Rs 31.52 crore. The near-term sales trend is also positive for the company.
On the other hand, there are some areas of concern for Mercantile Ventures. The profit before tax less other income (PBT) for the quarter has fallen by -1114.29% year on year, reaching Rs -3.40 crore. The profit after tax (PAT) has also seen a decline of -117.6% year on year, reaching Rs -1.53 crore. The operating profit (PBDIT) for the quarter is at its lowest in the last five quarters, at Rs -2.76 crore. The operating profit margin has also decreased to its lowest at -17.93%, indicating a decline in the company's efficiency.
The non-operating income for the quarter has increased to its highest at Rs 2.28 crore in the last five quarters. However, this may not be sustainable as it comes from non-business activities.
Overall, the financial results for the quarter ending March 2024 show a mixed performance for Mercantile Ventures. Investors should carefully consider these factors before making any investment decisions.
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