Share the post "Mihika Industries announces Q1 results: Profit Rises by 366.67% YoY"
Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: decrease in net sales/revenue by -98.71 %.
- 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 11.97 %. Marginal decrease of -1.87% in other income during this quarter.
- Profit over the Year and quarter: Significant improvement in profitability for Mihika Industries Ltd.. Notable increase of 452 % in net profit Year to Year, Mihika Industries Ltd.’s profitability dropped by -52.25 % Quarter to Quarter.
- EPS over the Year and quarter: EPS increased by 366.67 % Year to Year. EPS increased by 366.67 % in previous quarter. Positive impact on shareholders.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 0 Cr | Rs. 6.205 Cr | Rs. 0.08 Cr | -98.71 % | 0 % |
| Expenses | Rs. 0.2 Cr | Rs. 6.18 Cr | Rs. 0.16 Cr | -97.41 % | -20 % |
| Operating Profit | Rs. -0.2 Cr | Rs. 0.03 Cr | Rs. -0.08 Cr | -366.67 % | + 60 % |
| OPM % | 0 % | 0.48 % | -100 % | -100.48 % | -100 % |
| Other Income | Rs. 0.234 Cr | Rs. 0.267 Cr | Rs. 0.262 Cr | -1.87 % | + 11.97 % |
| Interest | Rs. 0 Cr | Rs. 0 Cr | Rs. 0 Cr | 0 % | 0 % |
| Depreciation | Rs. 0 Cr | Rs. 0 Cr | Rs. 0 Cr | 0 % | 0 % |
| Profit before tax | Rs. 0.03 Cr | Rs. 0.3 Cr | Rs. 0.18 Cr | -40 % | + 500 % |
| Tax % | 26.47 % | 0.7 % | 26.2 % | + 25.5 % | -0.27 % |
| Net Profit | Rs. 0.03 Cr | Rs. 0.29 Cr | Rs. 0.14 Cr | -51.72 % | + 366.67 % |
| EPS in Rs | Rs. 0.03 | Rs. 0.03 | Rs. 0.14 | + 366.67 % | + 366.67 % |
Today, we’re looking at Mihika Industries Ltd.’s financial performance for the Q1(Jun 2024).However, it did see a marginal slip of -98.71 % from the previous quarter. Expenses decreased slightly by -97.41 % quarter-on-quarter, aligning with the annual decline of -20 %. Operating profit, while up 60 % compared to last year, faced a quarter-on-quarter dip of -366.67 %, 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 -100 %, but a shrinkage of -100.48 % sequentially. Other income fell by -1.87 % compared to the last quarter, despite an annual growth of 11.97 %. Profit before tax grew annually by 500 % but saw a reduction from the preceding quarter by -40 %.
Tax expenses as a percentage of profits decreased slightly by -0.27 % compared to last year, with a more notable quarter-on-quarter increase of 25.5 %. Net profit rose by 366.67 % year-on-year but witnessed a -51.72 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual uptick of 366.67 % but a quarterly rise of 366.67 %. In summary, Mihika Industries 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. 0 Cr | Rs. 6.205 Cr | Rs. 0.08 Cr | -98.71 % | 0 % |
| Expenses | Rs. 0.2 Cr | Rs. 6.18 Cr | Rs. 0.16 Cr | -97.41 % | -20 % |
| Operating Profit | Rs. -0.2 Cr | Rs. 0.03 Cr | Rs. -0.08 Cr | -366.67 % | + 60 % |
| Net Profit | Rs. 0.03 Cr | Rs. 0.29 Cr | Rs. 0.14 Cr | -51.72 % | + 366.67 % |
| EPS in Rs | Rs. 0.03 | Rs. 0.03 | Rs. 0.14 | + 366.67 % | + 366.67 % |
In reviewing Mihika Industries Ltd.’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.although there was a slight dip of -98.71 % from the previous quarter. Expenses decreased by -20 % compared to the previous year, with a decrease of -97.41 % quarter-on-quarter. Operating Profit surged by 60 % annually, and saw a -366.67 % decrease from the last quarter.
Net Profit showed yearly increase of 366.67 %, and experienced a -51.72 % decrease from the previous quarter. Earnings Per Share (EPS) rose by 366.67 % annually, however rose by 366.67 % compared to the last quarter. In essence, while Mihika Industries Ltd. exhibits strong annual growth indicators, short-term fluctuations suggest the need for agile strategies to navigate market dynamics effectively. That’s all for now in the financial sector.
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