Kanco Tea & Industries Q1 Results Live: profit falls by 56.25% YOY

Kanco Tea & Industries Q1 Results Live : Kanco Tea & Industries declared their Q1 results on 09 Aug, 2024, revealing a significant downturn in performance. The company's revenue decreased by 42.64% year-over-year (YoY), while the profit plummeted by 56.25% YoY.

Despite the YoY decline, there was a marked improvement in the company's performance compared to the previous quarter. The revenue grew by an impressive 304.33%, and the profit increased by 110.55% quarter-over-quarter (QoQ).

The company's Selling, General & Administrative (SG&A) expenses rose by 18.91% QoQ, but decreased by 10.85% YoY. This indicates that while the company is managing its expenses better year over year, there was a rise in costs on a quarterly basis.

Operating income showed a similar trend, increasing by 111.46% QoQ but decreasing by 38.94% YoY. The mixed performance suggests that while the company is recovering on a quarterly basis, it is still struggling to match last year's levels.

Earnings per share (EPS) for Q1 stood at ₹1.91, reflecting a 56.29% decrease YoY. This decline in EPS is in line with the overall drop in profitability.

In terms of stock performance, Kanco Tea & Industries has delivered a -0.61% return in the past week, a -5.52% return over the last six months, and a -1.27% year-to-date (YTD) return. These figures highlight the ongoing challenges the company faces in the market.

Currently, Kanco Tea & Industries has a market capitalization of ₹38.67 Cr, with a 52-week high of ₹87.55 and a 52-week low of ₹62. These metrics provide a snapshot of the company's market position and its recent stock performance.