Waterbase's Q2 2024 Financial Results Show Negative Performance and Declining Profitability
Waterbase, a microcap company in the aquaculture industry, recently announced its financial results for the quarter ending in June 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 -19 compared to -11 in the previous quarter. However, there are some positive aspects to the company's financials. The debtors turnover ratio for the last five half yearly periods has been the highest at 7.97 times, indicating that the company has been able to settle its debtors faster.
On the other hand, there are also some concerning factors in Waterbase's financials. The profit after tax (PAT) for the quarter was at Rs -6.35 crore, which is a significant decrease of -142.8% compared to the average PAT of the previous four quarters. The net sales for the quarter were also down by -14.6% compared to the average net sales of the previous four quarters. The operating profit (PBDIT) for the quarter was at its lowest at Rs -5.94 crore and has been falling each quarter in the last five quarters. This indicates a negative trend in the company's near term operating profit.
The operating profit margin for the quarter was also at its lowest at -8.20%, showing a decline in the company's efficiency. The profit before tax less other income (PBT) for the quarter was at its lowest at Rs -8.90 crore and has been falling each quarter in the last five quarters. The earnings per share (EPS) for the quarter were also at its lowest at Rs -1.53, indicating a declining profitability and lower earnings for shareholders.
In terms of liquidity, Waterbase's cash and cash equivalents for the last six half yearly periods were at its lowest at Rs 17.01 crore, showing a deterioration in short term liquidity. Overall, the financial results for the quarter ending in June 2024 have been negative for Waterbase, with some concerning factors that need to be addressed by the company.
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