Vishal Bearings Reports Net Loss of Rs 167.44 Crore in Q1
Vishal Bearings Limited, a manufacturer of bearing rollers, reported a net loss of Rs 167.44 crore in Q1, compared to a profit of Rs 97.59 crore in the previous quarter. Revenue remained stable at Rs 2,222.50 crore, but total expenses increased to Rs 2,418.46 crore, largely due to higher material costs. The company's EPS for the quarter was negative Rs 1.34.
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Vishal Bearings Limited, a manufacturer and seller of bearing rollers, has reported its financial results for the first quarter. The company faced challenges during this period, recording a significant net loss and experiencing pressure on its revenue.
Financial Performance
Vishal Bearings reported a net loss of Rs 167.44 crore for the quarter. This marks a substantial decline from the previous quarter when the company posted a net profit of Rs 97.59 crore. The loss also deepened compared to the same quarter last year when the company reported a net loss of Rs 137.06 crore.
Revenue and Operations
The company's revenue from operations remained relatively stable at Rs 2,222.50 crore, compared to Rs 2,213.69 crore in the previous quarter. However, this represents a decline from Rs 2,323.33 crore recorded in the corresponding quarter of the previous year.
Expenses and Profitability
Total expenses for the quarter increased to Rs 2,418.46 crore, with a significant rise in the cost of materials consumed. The cost of materials jumped to Rs 1,354.14 crore from Rs 1,086.37 crore in the previous quarter. This increase in expenses contributed to the company's loss before tax of Rs 171.83 crore for the quarter.
Key Financial Metrics
| Metric | Current Quarter (Rs in crore) | Previous Quarter (Rs in crore) | Year-Ago Quarter (Rs in crore) |
|---|---|---|---|
| Revenue from Operations | 2,222.50 | 2,213.69 | 2,323.33 |
| Total Expenses | 2,418.46 | 2,125.62 | 2,449.81 |
| Profit/(Loss) Before Tax | (171.83) | 96.38 | (121.54) |
| Net Profit/(Loss) | (167.44) | 97.59 | (137.06) |
| Earnings Per Share (Rs) | (1.34) | 0.60 | (0.86) |
Other Details
The company's board meeting was held on August 7, where these unaudited financial results were approved. The earnings per share (EPS) for the quarter stood at negative Rs 1.34.
Vishal Bearings maintains its focus on manufacturing and selling bearing rollers and allied activities. The company reported that no investor complaints were received during the quarter, indicating stable investor relations despite the financial challenges.
The management has not provided specific comments on the factors contributing to the loss or any forward-looking statements regarding future performance.
Historical Stock Returns for Vishal Bearings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.53% | -6.90% | -9.45% | -22.50% | -36.41% | +184.30% |
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