Mukka Proteins dropped 6.50% to Rs 37.11 after the company's net profit declined 55.79% to Rs 10.47 crore in Q3 FY24 as compared with Rs 22.64 in Q3 FY23.
Revenue from operations jumped 28.11% YoY to Rs 501.65 crore in Q3 FY24.Profit before tax fell 47.07% to Rs 17.46 crore in quarter ended 31 December 2023 from Rs 32.99 crore in quarter ended 31 December 2022.
Total expenses stood at Rs 507.44 crore, registering the de-growth of 37.51% as compared with Rs 369.02 crore posted in corresponding quarter last year. Cost of material consumed stood at Rs 548.85 crore (up 41.86%), employee benefit expenses was at Rs 7.97 crore (up 19.85%), finance cost was at Rs 6.15 crore (up 47.84%) during the period under review.
The counter listed on bourses on 7 March 2024. It was listed at Rs 44, exhibiting a premium of 57.14% compared to the issue price of Rs 28.
Mukka Proteins manufactures fish protein products. The company produces and supplies fish meal, fish oil and fish soluble paste, which are essential ingredients for production of aqua feed (for fish and shrimp), poultry feed (for broilers and layers) and pet food (for dog and cat food).
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