Super Fine Knitters Reports Decline in Half-Year Revenue and Profit

Super Fine Knitters Limited has released its unaudited financial results for the half year ended September 30, 2023, revealing a decrease in both revenue and profit compared to the same period last year.

Revenue Performance

The company reported revenue from operations of Rs 12.34 crore for the half year, marking a decline from Rs 15.52 crore in the corresponding period of the previous year. Total revenue stood at Rs 12.35 crore, down from Rs 15.52 crore in the prior year half.

Profit and Earnings

Despite the revenue decline, Super Fine Knitters managed to maintain profitability, albeit at a lower level. The company posted a profit of Rs 19.21 lakh for the period, a significant decrease from the Rs 1.43 crore profit recorded in the same period last year.

This reduction in profit is reflected in the company's earnings per share (EPS). Both basic and diluted EPS were reported at Rs 0.15, down from Rs 1.15 in the corresponding previous period.

Balance Sheet Overview

The company's financial position remained relatively stable, with total assets slightly decreasing to Rs 40.95 crore from Rs 41.02 crore.

Corporate Governance

The Board of Directors of Super Fine Knitters Limited approved these financial results in a meeting held on November 14, 2023, demonstrating the company's commitment to timely financial reporting and transparency.

Financial Performance Table

Note: All financial figures are in Rs crore, except for Earnings Per Share which is in Rs.

The financial results indicate that Super Fine Knitters Limited faced challenges in maintaining its revenue and profit levels compared to the previous year. The significant decrease in profit despite a less severe decline in revenue suggests potential increases in costs or changes in the company's operational efficiency. Investors and stakeholders will likely be watching closely to see how the company addresses these challenges in the coming months.