Riba Textiles Reports Stable Performance Amid Rising Interest Expenses in December 2024 Results
Riba Textiles, a microcap player in the textile industry, has recently reported its financial results for the quarter ending December 2024. The results indicate a stable financial performance, with the score remaining unchanged over the past three months.The company's net sales for the quarter reached Rs 75.69 crore, reflecting a year-on-year growth of 34.32%. This positive trend in sales suggests a favorable near-term outlook for the company. Additionally, Riba Textiles achieved its highest operating profit in the last five quarters, amounting to Rs 6.83 crore, which also points to an encouraging trend in operating profit. The operating profit margin has improved, reaching 9.02%, indicating enhanced efficiency within the company.
However, there are challenges as well. The interest expense for the nine-month period has grown to Rs 4.28 crore, marking a 25.15% increase compared to the preceding nine months. This rise in interest costs suggests a potential increase in borrowings, which could impact the company's financial health moving forward.
Overall, Riba Textiles' recent financial results highlight both positive developments and areas of concern.
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