Protean eGov Technologies Reports Flat Financial Performance in Q2 2024.

Protean eGov Technologies, a midcap IT software company, has recently declared its financial results for the quarter ending September 2024. The company has reported a flat financial performance for the second quarter of the fiscal year 2024-2025. However, there has been a significant improvement in the company's overall score, which has increased from -13 to -1 in the last three months.

According to the financials, Protean eGov has shown a positive trend in its Profit Before Tax (PBT) and Profit After Tax (PAT) for the quarter. The PBT has grown by 145.1% to Rs 24.00 crore, compared to the average PBT of the previous four quarters, which was Rs 9.79 crore. Similarly, the PAT has also shown a growth of 26.9% to Rs 28.04 crore, compared to the average PAT of the previous four quarters, which was Rs 22.10 crore.

However, the company's non-operating income for the quarter is 36.12% of its PBT, which indicates a high income from non-business activities. This may not be a sustainable business model for the company in the long run.

MarketsMOJO, a leading stock market analysis and recommendation platform, has given a 'Sell' call for Protean eGov's stock. This is based on the company's financial performance and other market factors. Investors are advised to do their own research and analysis before making any investment decisions.