Praxis Home Retail Reports Decline in Performance, Receives 'Strong Sell' Rating

Praxis Home Retail, a microcap retail company, recently announced its financial results for the quarter ending December 2023. The company's stock has been given a 'Strong Sell' rating by MarketsMOJO.

According to the financial report, Praxis Home has seen a significant decline in its performance, with a score of -23 compared to -22 in the previous quarter. This decline can be attributed to various factors, including a decrease in net sales, profit before tax, and profit after tax.

The net sales for the quarter were reported at Rs 64.04 crore, showing a decrease of -39.34% compared to the same period last year. This trend is expected to continue in the near term, as the company's sales have been consistently declining.

Similarly, the profit before tax (PBT) for the quarter was reported at Rs -18.86 crore, showing a decline of -156.60% compared to the previous year. The profit after tax (PAT) also saw a significant decrease of -183.2% year on year, with a reported amount of Rs -18.55 crore.

These financial results indicate a negative trend for Praxis Home, and the company's stock has been given a 'Strong Sell' rating by MarketsMOJO. Investors and stakeholders should closely monitor the company's performance in the coming quarters to make informed decisions.