Nahar Spinning Mills Q1 results: profit at ₹6.64Cr, Revenue increased by 9.61% YoY

Nahar Spinning Mills Q1 Results Live : Nahar Spinning Mills has announced its Q1 results for the fiscal year 2024 on August 12, 2024. The company reported a revenue increase of 9.61% year-on-year (YoY), bringing the total revenue to a notable high. The profit for the quarter stood at ₹6.64 crore. This is a significant turnaround considering the company had declared a loss of ₹17.51 crore in the same period last fiscal year. Compared to the previous quarter, the revenue grew by 0.67%.

The financial results also highlighted an increase in selling, general, and administrative expenses, which rose by 1.47% quarter-on-quarter (QoQ) and increased by 11.23% YoY. Despite these increased expenses, the operating income showed strong growth, up by 70.84% QoQ and an impressive 349.22% YoY.

The Earnings Per Share (EPS) for Q1 was ₹2.11, reflecting a substantial increase of 146% YoY. This indicates a strong earnings performance for Nahar Spinning Mills, which could bode well for future quarters.

In terms of stock performance, Nahar Spinning Mills has seen a mixed bag of returns. The company has delivered a -10.95% return over the last week, a 7.57% return over the last six months, and an 11.42% year-to-date (YTD) return. This showcases a volatile yet positive overall performance in the stock market.

Currently, Nahar Spinning Mills has a market capitalization of ₹1139.66 crore. The stock has seen a 52-week high of ₹384.5 and a 52-week low of ₹225. This indicates a broad range of trading values over the past year, reflecting market sentiment and company performance.

Overall, the Q1 results for Nahar Spinning Mills show a positive trajectory with increased revenues and profits, despite rising expenses. The significant turnaround from a loss position in the previous fiscal year to a profitable stance in this quarter is a noteworthy achievement for the company.