Share the post "Eastern Treads ‘s Q1 Update: Profit Falls by 13.82% Year-on-Year"
Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company’s sales declined by -2.3 % over the year, decrease in net sales/revenue by -3.91 %.
- Income over the Year and quarter: There has been either a marginal increase or a decline in other income over the past year which is 30 %. Marginal decrease of -71.11% in other income during this quarter.
- Profit over the Year and quarter: Significant improvement in profitability for Eastern Treads Ltd.. Notable increase of 13.14 % in net profit Year to Year, Eastern Treads Ltd.’s profitability increased by 97.87 % in this quarter.
- EPS over the Year and quarter: EPS declined by -213.14 % Year to Year. EPS increased by 97.78 % in previous quarter. Positive impact on shareholders.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 14.529 Cr | Rs. 14.772 Cr | Rs. 14.195 Cr | -3.91 % | -2.3 % |
| Expenses | Rs. 14.62 Cr | Rs. 14.65 Cr | Rs. 14.79 Cr | + 0.96 % | + 1.16 % |
| Operating Profit | Rs. -0.09 Cr | Rs. 0.12 Cr | Rs. -0.6 Cr | -600 % | -566.67 % |
| OPM % | -0.62 % | 0.81 % | -4.23 % | -5.04 % | -3.61 % |
| Other Income | Rs. 0.01 Cr | Rs. 0.045 Cr | Rs. 0.013 Cr | -71.11 % | + 30 % |
| Interest | Rs. 0.8 Cr | Rs. 0.75 Cr | Rs. 0.62 Cr | -17.33 % | -22.5 % |
| Depreciation | Rs. 0.38 Cr | Rs. 0.24 Cr | Rs. 0.22 Cr | -8.33 % | -42.11 % |
| Profit before tax | Rs. -1.26 Cr | Rs. -0.83 Cr | Rs. -1.43 Cr | -72.29 % | -13.49 % |
| Tax % | -1.59 % | -13.5 % | -2.04 % | + 11.46 % | -0.45 % |
| Net Profit | Rs. -1.23 Cr | Rs. -0.71 Cr | Rs. -1.4 Cr | -97.18 % | -13.82 % |
| EPS in Rs | Rs. -2.36 | Rs. -1.35 | Rs. -2.67 | -97.78 % | -13.14 % |
Today, we’re looking at Eastern Treads Ltd.’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a significant year-over-year sales decline of -2.3 %. However, it did see a marginal slip of -3.91 % from the previous quarter. Expenses ticked up slightly by 0.96 % quarter-on-quarter, aligning with the annual rise of 1.16 %. Operating profit, while down -566.67 % compared to last year, faced a quarter-on-quarter dip of -600 %, signaling a short-term contraction in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -3.61 %, but a shrinkage of -5.04 % sequentially. Other income fell by -71.11 % compared to the last quarter, despite an annual growth of 30 %. Interest expenses dropped significantly by -17.33 % from the previous quarter, yet the year-over-year decrease remains at a moderate -22.5 %. Depreciation costs fell by -8.33 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -42.11 %. Profit before tax declined annually by -13.49 % but saw a reduction from the preceding quarter by -72.29 %.
Tax expenses as a percentage of profits decreased slightly by -0.45 % compared to last year, with a more notable quarter-on-quarter increase of 11.46 %. Net profit fell by -13.82 % year-on-year but witnessed a -97.18 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -13.14 % but a quarterly fall of -97.78 %. In summary, Eastern Treads Ltd.’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 14.529 Cr | Rs. 14.772 Cr | Rs. 14.195 Cr | -3.91 % | -2.3 % |
| Expenses | Rs. 14.62 Cr | Rs. 14.65 Cr | Rs. 14.79 Cr | + 0.96 % | + 1.16 % |
| Operating Profit | Rs. -0.09 Cr | Rs. 0.12 Cr | Rs. -0.6 Cr | -600 % | -566.67 % |
| Net Profit | Rs. -1.23 Cr | Rs. -0.71 Cr | Rs. -1.4 Cr | -97.18 % | -13.82 % |
| EPS in Rs | Rs. -2.36 | Rs. -1.35 | Rs. -2.67 | -97.78 % | -13.14 % |
In reviewing Eastern Treads Ltd.’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales experienced a decrease of -2.3 % year-on-year, although there was a slight dip of -3.91 % from the previous quarter. Expenses rose by 1.16 % compared to the previous year, with a 0.96 % increase quarter-on-quarter. Operating Profit dropped by -566.67 % annually, and saw a -600 % decrease from the last quarter.
Net Profit showed yearly decrease of -13.82 %, and experienced a -97.18 % decrease from the previous quarter. Earnings Per Share (EPS) fell by -13.14 % annually, however dipped by -97.78 % compared to the last quarter. In essence, while Eastern Treads Ltd. faces strong annual decline indicators, short-term fluctuations suggest the need for agile strategies to navigate market dynamics effectively. That’s all for now in the financial sector.
[my_shortcode1]
