Ruby Mills Reports Flat Performance in Q1, MarketsMOJO Gives 'Sell' Call

Despite the challenging market conditions, textile company Ruby Mills has recently announced its financial results for the quarter ending June 2024. The company has reported a flat performance with a score of -4, a significant decrease from its previous score of 16 in the last three months.

According to the financials, Ruby Mills has seen a decline in its net sales by -20.7% at Rs 46.97 crore compared to the average net sales of the previous four quarters, which stood at Rs 59.25 crore. This indicates a negative trend in the company's sales in the near term.

Similarly, the company's profit before tax (PBT) has also fallen by -27.1% at Rs 7.71 crore compared to the average PBT of the previous four quarters, which was Rs 10.58 crore. The near term trend for PBT is also negative.

The profit after tax (PAT) has also seen a decline of -21.1% at Rs 8.80 crore compared to the average PAT of the previous four quarters, which was Rs 11.16 crore. This indicates a negative trend in the company's profitability in the near term.

Moreover, the net sales for the quarter have been the lowest in the last five quarters at Rs 46.97 crore, further highlighting the negative trend in the company's sales.

Based on these financial results, MarketsMOJO has given a 'Sell' call for Ruby Mills' stock. However, it is important to note that this is not a recommendation and is solely based on the company's financial performance. Investors are advised to do their own research before making any investment decisions.