Aditya Spinners Reports Widened Q1 Loss of ₹96.31 Crore Amid Rising Expenses
Aditya Spinners Limited reported a net loss of ₹96.31 crore in Q1, a 364% increase from the previous year's ₹20.75 crore loss. Revenue rose 17% to ₹1,631.06 crore, but total expenses of ₹1,743.71 crore outpaced revenue growth. The company's EPS declined to -₹0.58 from -₹0.12 year-over-year. The Board of Directors approved these unaudited results on August 7, following a review by the Audit Committee and limited review by statutory auditors.
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Aditya Spinners Limited , a textile manufacturing company, has reported a significant increase in net loss for the first quarter. The company's financial results, approved by the Board of Directors on August 7, reveal challenges in profitability despite growth in revenue.
Financial Performance Highlights
Aditya Spinners Limited faced a substantial widening of its net loss in Q1. The company reported a net loss of ₹96.31 crore for the quarter, compared to a loss of ₹20.75 crore in the same period last year. This represents a year-on-year increase in losses of approximately 364%.
Despite the increased losses, the company saw growth in its top line. Revenue from operations rose to ₹1,631.06 crore, up from ₹1,394.44 crore in the corresponding quarter of the previous year, marking an increase of about 17%.
Expense Analysis
The widened losses can be attributed to a significant rise in total expenses. For Q1, Aditya Spinners reported total expenses of ₹1,743.71 crore. This increase in expenses outpaced the growth in revenue, putting pressure on the company's profitability.
Key Financial Metrics
Here's a breakdown of some key financial metrics for Aditya Spinners Limited in Q1:
| Metric | Q1 (₹ in crore) | Q1 Previous Year (₹ in crore) | Change (%) |
|---|---|---|---|
| Revenue from Operations | 1,631.06 | 1,394.44 | +17.0% |
| Total Expenses | 1,743.71 | - | - |
| Net Loss | 96.31 | 20.75 | +364.1% |
| Earnings Per Share (Basic) | -0.58 | -0.12 | -383.3% |
Earnings Per Share and Share Capital
The company's earnings per share (EPS) stood at negative ₹0.58 for both basic and diluted calculations in Q1, compared to negative ₹0.12 in the same quarter of the previous year. This reflects the impact of the increased losses on shareholder value.
Aditya Spinners maintains a paid-up share capital of ₹1,674.09 crore, consisting of 16,740,888 shares with a face value of ₹10 each.
Audit Review and Board Approval
The unaudited financial results for Q1 were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on August 7. The statutory auditor, T Mohan & Associates, Chartered Accountants, conducted a limited review of the results.
As Aditya Spinners Limited navigates through challenging market conditions, investors and stakeholders will be keenly watching the company's strategies to improve profitability and manage expenses in the coming quarters.
Historical Stock Returns for Aditya Spinners
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.58% | -1.25% | -7.10% | -10.77% | -25.33% | +174.00% |
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