Share the post "Chitradurga Spintex announces Q1 results: Profit Rises by 75.68% YoY"
Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company experienced a substantial growth of 134.54 % in the past year, decrease in net sales/revenue by -13.46 %.
- 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 325 %. Marginal increase in other income during this quarter, up by 16.19%.
- Profit over the Year and quarter: Significant improvement in profitability for Chitradurga Spintex Ltd.. Notable increase of 73.39 % in net profit Year to Year, Chitradurga Spintex Ltd.’s profitability increased by 9.51 % in this quarter.
- EPS over the Year and quarter: EPS increased by 73.39 % Year to Year. EPS increased by 9.25 % in previous quarter. Positive impact on shareholders.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 2.808 Cr | Rs. 7.61 Cr | Rs. 6.586 Cr | -13.46 % | + 134.54 % |
| Expenses | Rs. 2.47 Cr | Rs. 7.66 Cr | Rs. 6.62 Cr | -13.58 % | + 168.02 % |
| Operating Profit | Rs. 0.34 Cr | Rs. -0.05 Cr | Rs. -0.03 Cr | + 40 % | -108.82 % |
| OPM % | 12.11 % | -0.66 % | -0.46 % | + 0.2 % | -12.57 % |
| Other Income | Rs. 0.076 Cr | Rs. 0.278 Cr | Rs. 0.323 Cr | + 16.19 % | + 325 % |
| Interest | Rs. 0 Cr | Rs. 0.01 Cr | Rs. 0 Cr | 0 % | 0 % |
| Depreciation | Rs. 0.01 Cr | Rs. 0 Cr | Rs. 0.02 Cr | 0 % | + 100 % |
| Profit before tax | Rs. 0.41 Cr | Rs. 0.22 Cr | Rs. 0.27 Cr | + 22.73 % | -34.15 % |
| Tax % | 9.27 % | 169.41 % | 138.01 % | -31.4 % | + 128.74 % |
| Net Profit | Rs. 0.37 Cr | Rs. 0.59 Cr | Rs. 0.65 Cr | + 10.17 % | + 75.68 % |
| EPS in Rs | Rs. 1.09 | Rs. 1.73 | Rs. 1.89 | + 9.25 % | + 73.39 % |
Today, we’re looking at Chitradurga Spintex Ltd.’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 134.54 %. However, it did see a marginal slip of -13.46 % from the previous quarter. Expenses decreased slightly by -13.58 % quarter-on-quarter, aligning with the annual rise of 168.02 %. Operating profit, while down -108.82 % compared to last year, faced a quarter-on-quarter increase of 40 %, signaling a short-term expansion in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -12.57 %, but an expansion of 0.2 % sequentially. Other income rose by 16.19 % compared to the last quarter, despite an annual growth of 325 %. whereas on an annual scale, they saw an increase of 100 %. Profit before tax declined annually by -34.15 % but saw an increase from the preceding quarter by 22.73 %.
Tax expenses as a percentage of profits increased slightly by 128.74 % compared to last year, with a more notable quarter-on-quarter decrease of -31.4 %. Net profit rose by 75.68 % year-on-year but experienced a 10.17 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 73.39 % but a quarterly rise of 9.25 %. In summary, Chitradurga Spintex 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. 2.808 Cr | Rs. 7.61 Cr | Rs. 6.586 Cr | -13.46 % | + 134.54 % |
| Expenses | Rs. 2.47 Cr | Rs. 7.66 Cr | Rs. 6.62 Cr | -13.58 % | + 168.02 % |
| Operating Profit | Rs. 0.34 Cr | Rs. -0.05 Cr | Rs. -0.03 Cr | + 40 % | -108.82 % |
| Net Profit | Rs. 0.37 Cr | Rs. 0.59 Cr | Rs. 0.65 Cr | + 10.17 % | + 75.68 % |
| EPS in Rs | Rs. 1.09 | Rs. 1.73 | Rs. 1.89 | + 9.25 % | + 73.39 % |
In reviewing Chitradurga Spintex Ltd.’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 134.54 % year-on-year growth, although there was a slight dip of -13.46 % from the previous quarter. Expenses rose by 168.02 % compared to the previous year, with a decrease of -13.58 % quarter-on-quarter. Operating Profit dropped by -108.82 % annually, and saw a 40 % increase from the last quarter.
Net Profit showed yearly increase of 75.68 %, and experienced a 10.17 % increase from the previous quarter. Earnings Per Share (EPS) rose by 73.39 % annually, however rose by 9.25 % compared to the last quarter. In essence, while Chitradurga Spintex Ltd. faces strong annual decline indicators, short-term improvements suggest the potential for recovery and the importance of strategic adjustments to counter market challenges effectively. That’s all for now in the financial sector.
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