Teesta Agro Industries Reports Decline in Sales and Profit for Q4 2023
Teesta Agro Industries, a microcap company in the fertilizer industry, recently announced its financial results for the quarter ending December 2023. According to the report released on January 31, 2024, the company has seen a negative performance in this quarter.
The company's net sales for the quarter were Rs 48.13 crore, which is a significant decrease of 58.83% compared to the same quarter last year. This decline in sales has been a major concern for the company in the last three months.
The profit before tax (PBT) for the quarter was Rs 0.70 crore, showing a decline of 83.57% compared to the previous year. This is a worrying trend for the company in the near term. The profit after tax (PAT) for the half-yearly period was Rs 0.95 crore, which is a decrease of 62.08% compared to the same period last year. This indicates a negative trend in the company's profitability.
Another concerning factor for Teesta Agro Industries is its debtors turnover ratio, which is at its lowest in the last five half-yearly periods at 11.03 times. This shows that the company's pace of settling its debtors has slowed down.
Based on these financial results, MarketsMOJO has given a 'Sell' call for Teesta Agro Industries' stock. The company needs to address these issues and improve its financial performance in order to regain investor confidence.
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