Seafood Giant Oceanic Foods Sees 32.2% Drop in Profit: Q1 FY24 Results

In the dynamic world of finance and stock market analysis, every company’s quarterly results become a significant point of interest for investors and stakeholders. Oceanic Foods, a prominent player in the seafood industry, recently released its Q1 FY24 results, providing a comprehensive insight into its financial performance during the specified period. The following article delves into the details of Oceanic Foods’ Q1 FY24 results and the implications it has had on the industry.

Insights into Oceanic Foods' Q1 FY24 Results

Oceanic Foods’ Q1 FY24 results, unveiled on 27th December 2023, revealed a noteworthy transition in various financial aspects. The company experienced a 21.41% decrease in topline revenue and a significant 32.2% reduction in profit when compared to the same period the previous year. Despite this, there was a positive upturn in the sequential quarter comparison, with a 15% increase in revenue and a 1.12% rise in profit.

Financial Performance

The analysis of Oceanic Foods’ financial performance during Q1 FY24 reflects interesting trends. The Selling, General & Administrative (SG&A) expenses recorded a notable decline of 29.36% quarter-on-quarter, coupled with a 7.39% year-on-year increase. Conversely, the operating income exhibited a 1.03% decline sequentially and a significant 25.15% drop year-on-year. The Earnings Per Share (EPS) for Q1 FY24 stood at ₹0.37, marking a substantial 32.73% decrease compared to the previous year.

Market Impact and Returns

The market’s reaction to Oceanic Foods’ Q1 FY24 results was reflected in its returns over specific periods. The company delivered a 0% return in the last week, a robust 29.61% return over the last 6 months, and a challenging -8.75% Year-to-Date (YTD) return. As of now, Oceanic Foods possesses a market capitalization of ₹34.03 Cr, with a 52-week high/low of ₹35.2 and ₹21.3 respectively.
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In-Depth Financial Data

A comprehensive breakdown of Oceanic Foods’ financials for Q1 FY24 provides a deeper understanding of its performance. This breakdown includes data on total revenue, SG&A expenses, depreciation, operating expenses, operating income, net income before taxes, and net income. These figures enable stakeholders and market analysts to make a detailed assessment of the company’s financial state and trajectory.


The disclosure of Q1 FY24 results also shed light on specific frequently asked questions regarding the company’s financials. The Q1 FY24 profit and loss were reported at ₹0.42Cr, while the revenue for the same period stood at ₹19.68Cr, providing clarity for common queries among stakeholders.


The release of Oceanic Foods’ Q1 FY24 results has created ripples in the financial landscape, prompting analysis, speculations, and investment considerations. This pivotal information has become instrumental in guiding investment decisions, enabling stakeholders to evaluate the company’s financial health and potential for the future. The significance of these results reverberates across the seafood industry and the broader market, shaping the narrative and impacting investment strategies. As the market continues to react and adapt to these insights, the implications of Oceanic Foods’ Q1 FY24 results will continue to unfold, steering the course for the company and its stakeholders. This article is based on information provided by


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