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Highlights
- The presented financial data is Consolidated to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company experienced a substantial growth of 30.63 % in the past year, substantial increase in net sales/revenue by 10.05 %.
- 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 13.67 %. Marginal decrease of -16.35% in other income during this quarter.
- Profit over the Year and quarter: Significant improvement in profitability for Kitex Garments Limited. Notable increase of 241.58 % in net profit Year to Year, Kitex Garments Limited’s profitability increased by 35.14 % in this quarter.
- EPS over the Year and quarter: EPS increased by 248.31 % Year to Year. EPS increased by 35.64 % in previous quarter. Positive impact on shareholders.
Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
---|---|---|---|---|---|
Sales | Rs. 145.781 Cr | Rs. 173.054 Cr | Rs. 190.438 Cr | + 10.05 % | + 30.63 % |
Expenses | Rs. 131.79 Cr | Rs. 138.54 Cr | Rs. 150.06 Cr | + 8.32 % | + 13.86 % |
Operating Profit | Rs. 13.99 Cr | Rs. 34.51 Cr | Rs. 40.38 Cr | + 17.01 % | + 188.63 % |
OPM % | 9.6 % | 19.94 % | 21.2 % | + 1.26 % | + 11.6 % |
Other Income | Rs. 2.385 Cr | Rs. 3.241 Cr | Rs. 2.711 Cr | -16.35 % | + 13.67 % |
Interest | Rs. 0.85 Cr | Rs. 2.84 Cr | Rs. 2.09 Cr | -26.41 % | + 145.88 % |
Depreciation | Rs. 5.29 Cr | Rs. 5.08 Cr | Rs. 4.69 Cr | -7.68 % | -11.34 % |
Profit before tax | Rs. 10.24 Cr | Rs. 29.83 Cr | Rs. 36.31 Cr | + 21.72 % | + 254.59 % |
Tax % | 23.71 % | 33.81 % | 26.51 % | -7.3 % | + 2.8 % |
Net Profit | Rs. 7.81 Cr | Rs. 19.75 Cr | Rs. 26.68 Cr | + 35.09 % | + 241.61 % |
EPS in Rs | Rs. 1.18 | Rs. 3.03 | Rs. 4.11 | + 35.64 % | + 248.31 % |
Today, we’re looking at Kitex Garments Limited’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 30.63 %. However, it did see a marginal increase of 10.05 % from the previous quarter. Expenses ticked up slightly by 8.32 % quarter-on-quarter, aligning with the annual rise of 13.86 %. Operating profit, while up 188.63 % compared to last year, faced a quarter-on-quarter increase of 17.01 %, signaling a short-term expansion in margins.
The Operating Profit Margin (OPM) % echoes this narrative, showing resilience on an annual basis with an increase of 11.6 %, but an expansion of 1.26 % sequentially. Other income fell by -16.35 % compared to the last quarter, despite an annual growth of 13.67 %. Interest expenses dropped significantly by -26.41 % from the previous quarter, yet the year-over-year increase remains at a moderate 145.88 %. Depreciation costs fell by -7.68 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -11.34 %. Profit before tax grew annually by 254.59 % but saw an increase from the preceding quarter by 21.72 %.
Tax expenses as a percentage of profits increased slightly by 2.8 % compared to last year, with a more notable quarter-on-quarter decrease of -7.3 %. Net profit rose by 241.61 % year-on-year but experienced a 35.09 % expansion from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 248.31 % but a quarterly rise of 35.64 %. In summary, Kitex Garments Limited’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. 145.781 Cr | Rs. 173.054 Cr | Rs. 190.438 Cr | + 10.05 % | + 30.63 % |
Expenses | Rs. 131.79 Cr | Rs. 138.54 Cr | Rs. 150.06 Cr | + 8.32 % | + 13.86 % |
Operating Profit | Rs. 13.99 Cr | Rs. 34.51 Cr | Rs. 40.38 Cr | + 17.01 % | + 188.63 % |
Net Profit | Rs. 7.81 Cr | Rs. 19.75 Cr | Rs. 26.68 Cr | + 35.09 % | + 241.61 % |
EPS in Rs | Rs. 1.18 | Rs. 3.03 | Rs. 4.11 | + 35.64 % | + 248.31 % |
In reviewing Kitex Garments Limited’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 30.63 % year-on-year growth, however, there was a minor increase of 10.05 % from the previous quarter. Expenses rose by 13.86 % compared to the previous year, with a 8.32 % increase quarter-on-quarter. Operating Profit surged by 188.63 % annually, and saw a 17.01 % increase from the last quarter.
Net Profit showed yearly increase of 241.61 %, and experienced a 35.09 % increase from the previous quarter. Earnings Per Share (EPS) rose by 248.31 % annually, however rose by 35.64 % compared to the last quarter. In essence, while Kitex Garments Limited exhibits strong annual growth 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.