Mukka Proteins Net Profit Jumps 141.53%

Manglore-based Mukka Proteins, announced its audited financial results for the quarter and year ended on March 31, 2024.

The improvement in the margins indicates that the management is focused on improving the profitability going forward as well. The use of IPO proceeds in the working capital requirements, has boarded extremely well with the plans visualized by the management of the company.

Some of the key highlights are as follows:
● PAT for Q4 FY24, increased by 141.53 per cent to Rs 29.15 Crores from 12.07 Crores in Q3 FY24 (QoQ comparison) and increased by 32.99 per cent in Q4, FY24 from Rs 21.92 Crores in Q4, FY23 (YoY comparison)

● For the entire FY24, PAT increased by 56.35 per cent to Rs 74.31 Crores, from Rs 47.52 Crores in FY23

EBIDTA has Improves By 37.77%

● On a QoQ basis, the EBITDA margins increased by 177.47%, to 14.38% in
Q4, FY24 from 5.18% in Q3, FY24, indicating 920 bps improvement in the
margins

● EBIDTA has improved by 37.77% to Rs 36.92 Crores in Q4, FY24 from Rs
26.80 Crores in Q3, FY24

The sector promises to witness strong growth momentum going further in FY25 and in recent times the support from the Government through various schemes like Pradhan Mantri Matsya Sampada Yojana (PMMSY) , Fisheries and Aquaculture Infrastructure Development Fund, Blue revolution 2.0 will only boost the prospects of the industry going forward.

Our aim will be to surpass the industry growth and ensure that all our stakeholders including investors are extremely happy with the company’s performance” The total order book stands at Rs. 153 Crores (approx.) till date.