Mangaluru-Based Mukka Proteins Net Profit Stood at Rs 29.15 Crores for the Quarter Ended March 31, 2024

BusinessWire India
Mangalore (Karnataka) [India], May 15: Mukka Proteins, announced its audited financial results for the quarter and Year Ended on March 31, 2024. Key highlights from the results are highlighted below.
* PAT for Q4 FY24, increased by 141.53% to Rs 29.15 Crores from 12.07 Crores in Q3 FY24 (QoQ comparison) and increased by 32.99% in Q4, FY24 from Rs 21.92 Crores in Q4, FY23 (YoY comparison)
* For the entire FY24, PAT increased by 56.35% to Rs 74.31 Crores, from Rs 47.52 Crores in FY23
* 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
* PAT % as a % of Revenue has improved by 386.44%, to 11.36% in Q4, FY24 from 2.33% in Q3, FY24 and has improved by 117.96% compared to Q4, FY23
On this occasion, Mohammed Haris, MD and CEO, Mukka Proteins said, "We are extremely proud of the strong operational performance of the company in Q4, 2024. The improvement in the margins clearly indicates that the management is focussed 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. 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.
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