Waterbase Reports Negative Financial Results for Q1 2024, Receives 'Strong Sell' Rating
Waterbase, a microcap aquaculture company, has 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, Waterbase has seen a negative performance in the quarter, with a score of -11, which has improved from -13 in the last three months. The company's net sales for the quarter were at Rs 67.31 crore, which is a decrease of 20.2% compared to the average net sales of the previous four quarters, which were at Rs 84.39 crore. This indicates a very negative trend in near-term sales.
The company's profit before tax less other income (PBT) for the quarter was at Rs -7.26 crore, which is a decrease of 129.2% compared to the average PBT of the previous four quarters, which was at Rs -3.17 crore. This also shows a very negative trend in near-term PBT.
Waterbase's operating profit (PBDIT) for the quarter was at its lowest in the last five quarters, at Rs -4.44 crore. This indicates a negative trend in near-term operating profit. The company's operating profit margin for the quarter was also at its lowest in the last five quarters, at -6.60%. This shows a deterioration in the company's efficiency.
Furthermore, the company's earnings per share (EPS) for the quarter were at its lowest in the last five quarters, at Rs -1.15. This indicates a decline in profitability and lower earnings for shareholders.
Overall, Waterbase's financial performance for the quarter ending March 2024 has been negative, with a decline in net sales, PBT, operating profit, and EPS. This has led to a 'Strong Sell' rating for the company's stock by MarketsMOJO.
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