Sri Lakshmi Saraswathi Textiles (Arni) Q1 Results, Lower Sales and Increased Losses

For the first quarter of the fiscal year, Sri Lakshmi Saraswathi Textiles (Arni) showed a mixed performance. The company reported income from operations of ₹2,330.65 lakh, which is lower than the ₹3,510.07 lakh from the same period last year. This decrease in income is largely due to a decline in net sales, which fell from ₹3,506.42 lakh to ₹2,326.90 lakh. The company’s other income also decreased slightly from ₹3.65 lakh to ₹3.75 lakh.

Expenses for the quarter amounted to ₹2,949.84 lakh, a reduction from ₹4,034.68 lakh a year ago. Significant cost reductions were seen in material consumption and power & fuel expenses. However, the company still faced a loss before tax of ₹619.19 lakh, compared to a loss of ₹524.61 lakh in the previous year. There were no exceptional items or tax expenses during the quarter.

The company’s net loss after tax remained at ₹619.19 lakh, showing a deeper loss compared to ₹524.61 lakh from the same quarter last year. The total comprehensive loss, after considering other comprehensive income, was ₹619.19 lakh, slightly worse than the ₹524.61 lakh loss from the previous year.

Source: Here

Sri Lakshmi Saraswathi Textiles (Arni) Q1 Results

These results reflect the company’s ongoing struggles with higher costs and lower income, resulting in increased losses compared to the previous year.

Sri Lakshmi Saraswathi Textiles Arni Limited 

Sri Lakshmi Saraswathi Textiles Arni Limited, commonly known as SLST, has been a leading name in the textile industry for 37 years. The company specializes in providing high-quality cotton and polycotton yarns to buyers from around the world. SLST is known for offering these yarns at competitive prices, ensuring timely delivery to meet the needs of its global customers.

SLST prides itself on maintaining rigorous global trade standards. The company invests in advanced technology to ensure that the yarns meet the highest quality standards. SLST's infrastructure includes state-of-the-art machinery, a well-equipped quality control lab, computerized systems, and a humidification department. These facilities help create the optimal conditions for producing top-quality yarns.