Nivaka Fashions Q1 Results Live: loss rise by 172.12% YOY

Nivaka Fashions Q1 Results Live : Nivaka Fashions declared their Q1 results on 14 Aug, 2024. The financial performance for the quarter showcased a significant decline in revenue and a substantial increase in losses. The topline revenue for Nivaka Fashions plummeted by 60.09% year-over-year (YoY), signaling a challenging quarter for the company. Concurrently, the net loss escalated by a staggering 172.12% YoY.

When compared to the previous quarter, the financial downturn was even more pronounced. The revenue saw a sharp decline of 87.59% quarter-over-quarter (QoQ), while the net loss surged by an extraordinary 4669.81% QoQ. These figures indicate severe operational and financial difficulties faced by the company in the recent months.

On a more positive note, the company's Selling, General & Administrative (SG&A) expenses showed a decrease, reflecting efforts to manage costs amid the financial strain. SG&A expenses declined by 72.72% QoQ and recorded a 12.93% reduction YoY, suggesting improved efficiency in certain operational areas.

Despite the overall negative financial performance, Nivaka Fashions reported a modest improvement in operating income on a quarterly basis. The operating income increased by 5.89% QoQ, although it still saw a decline of 24.82% YoY. This indicates that while the company is grappling with revenue and loss challenges, there are some areas where operational performance is stabilizing.

The earnings per share (EPS) for Q1 stood at ₹-0.02, marking a significant decline of 172.15% YoY. This further underscores the financial difficulties faced by the company in the current economic climate.

As Nivaka Fashions navigates through these tough times, the focus will likely be on strategic adjustments and cost management to steer the company back to a more stable financial footing.