Deepak Spinners Q1 results: loss at ₹5.62Cr, Revenue increased by 23.25% YoY

Deepak Spinners Q1 Results Live : Deepak Spinners Q1 Results Live: Deepak Spinners declared their Q1 results on 13 Aug, 2024. The topline for the quarter showed a remarkable increase of 23.25% year-on-year. However, the company reported a net loss of ₹5.62 crore for the period. In the same quarter of the previous fiscal year, the company had declared a profit of ₹2.2 crore.

Comparing to the previous quarter, the revenue saw an impressive growth of 28.23%. Despite the increased revenue, the company's profitability was affected, leading to the reported loss.

On the expense front, Selling, General & Administrative (SG&A) expenses declined by 1.09% quarter-on-quarter but increased by 4.93% year-on-year. This indicates a strategic reduction in expenses over the last quarter while managing higher costs compared to the same period last year.

The operating income for the quarter was down by 29.66% compared to the previous quarter and showed a significant decrease of 227.32% year-on-year. This substantial drop in operating income is a concerning aspect of the quarterly results.

Earnings per Share (EPS) for the quarter stood at ₹-7.82, reflecting a decrease of 355.56% year-on-year. This highlights the challenges the company faced in maintaining its profitability.

In terms of stock performance, Deepak Spinners has delivered a -3.95% return in the last 1 week, -16.14% return in the last 6 months, and a -15.89% year-to-date (YTD) return. These figures indicate a challenging period for the company's stock performance.

As of now, Deepak Spinners has a market capitalization of ₹152.23 crore. The company’s 52-week high and low stand at ₹320 and ₹202 respectively. These figures provide a perspective on the company's stock price volatility over the past year.