Laxmi Cotspin Q1 Results Revenue Decreased by 17.36% QoQ and 31.91% YoY

Laxmi Cotspin Growth Comparison 

Laxmi Cotspin Q1 Results: Laxmi Cotspin's financial results for the first quarter of June 2024 show several key changes compared to previous periods. The company's total revenue decreased to 30.41 crores, which is down by 17.36% quarter-on-quarter (QoQ) from 41.37 crores in March 2023. This decline also reflects a significant drop of 31.91% year-over-year (YoY) from 44.66 crores in June 2023.

Laxmi Cotspin’s selling, general, and administrative expenses decreased by 14.80% QoQ, from 2.49 crores to 2.09 crores, and slightly increased by 2.17% YoY compared to 2.04 crores a year ago. Depreciation and amortization expenses were 0.79 crores, a small decrease of 2.47% QoQ from 0.81 crores, but a decrease of 1.87% YoY from 0.80 crores.

Laxmi Cotspin’s Other operating expenses rose by 14.97% QoQ, reaching 5.46 crores, and increased by 29.73% YoY compared to 4.21 crores last year. The total operating expenses dropped by 21.43% QoQ, from 42.12 crores to 33.10 crores, and decreased by 28.92% YoY from 46.57 crores.

Laxmi Cotspin’s reported an operating loss of 2.69 crores, which is worse compared to the loss of 0.75 crores in the previous quarter and a loss of 1.91 crores last year, marking a 40.98% YoY increase. Net income before taxes and net income also showed worsening losses compared to both the previous quarter and the same quarter last year. Diluted normalized EPS decreased significantly by 382.14% QoQ and 28.48% YoY. This indicates a tough financial period for Laxmi Cotspin.

Here's a summary of Laxmi Cotspin's Q1 financial results for June 2024:

Source: Here 

For More Q1 Results check our Twitter Page

Visit our website for more Q1 results 

Laxmi Cotspin Q1 Results

Laxmi Cotspin reported a total income from operations of ₹3,040.53 crore for the three months ending June 30, 2024, which is lower than the previous quarter's income of ₹3,679.44 crore and the same quarter from the previous year, which was ₹4,465.63 crore. This decrease in income is notable as the company’s earnings for the entire year ending March 31, 2024, were ₹14,402.21 crore.

Laxmi Cotspin’s expenses for this period were ₹3,309.77 crore, up slightly from ₹3,384.99 crore in the previous quarter but less than ₹4,656.60 crore from the same quarter last year. Key expenses included ₹2,626.17 crore for materials, depreciation of ₹208.63 crore, and other expenses of ₹78.90 crore. The company experienced a loss from operations before accounting for other income and finance costs, totaling ₹269.23 crore.

Laxmi Cotspin’s After including other income of ₹20.05 crore and finance costs of ₹104.40 crore, the loss increased to ₹353.59 crore. The net loss for the period, after taxes and other adjustments, was ₹348.70 crore. This loss compares to a profit of ₹718.64 crore in the previous quarter and a net loss of ₹28.27 crore for the entire year ending March 31, 2024.

Here’s a simplified summary of the results for Venkys India for the specified periods:

Laxmi Cotspin Stock Metrics

The Laxmi Cotspin table shows key financial details of the company's stock. The market cap of ₹64.5 Crores indicates the total value of all the company’s shares. The current price of ₹37.6 is what you would pay for one share right now. The stock has reached a high of ₹42.4 and a low of ₹20.0. The book value is ₹36.7, reflecting the value of the company's assets per share. The dividend yield is 0.00%, meaning no dividends are currently paid. 

Here’s the information in a table format:

Quarterly Results 

The table shows Laxmi Cotspin's financial performance over recent quarters. In December 2023, the company had sales of Rs. 31.08 crores but faced higher expenses of Rs. 32.15 crores, resulting in a negative operating profit of Rs. -1.07 crores. By March 2024, sales increased to Rs. 36.79 crores, and the operating profit improved to Rs. 3.58 crores. 

Here's the financial data for December 2023, March 2024, and June 2024:

About Laxmi Cotspin

Laxmi Cotspin is a company dedicated to excellence in the textile manufacturing industry. We aim to be the best and most valued partner globally by focusing on top-quality products and services. Our main products include high-quality cotton bales and yarns that meet and exceed international standards. We are committed to providing these products with punctuality and respect for our customers’ needs.

We also prioritize sustainability and safety in our operations. We work hard to minimize waste by recycling water, energy, and raw materials. This helps us reduce our environmental impact and maintain a sustainable production process. We believe in the importance of keeping our employees safe, so we offer regular training on safety and environmental practices. 

Laxmi Cotspin continually improve our safety measures to prevent accidents and ensure a secure work environment. At Laxmi Cotspin, our dedication to quality, sustainability, and safety is central to everything we do, driving us towards growth and innovation for a better future.