Salona Cotspin Reports Mixed Financial Results Amid Sales Decline and Rising Costs in December 2024
Salona Cotspin, a microcap player in the textile industry, has recently reported its financial results for the quarter ending December 2024. The results indicate a notable shift in the company's evaluation, with the score reflecting a decline from -5 to -7 over the past three months.On a positive note, Salona Cotspin achieved its highest operating profit margin in the last five quarters, reaching 5.89%. This improvement in efficiency is a significant highlight, alongside an operating profit (PBDIT) of Rs 9.32 crore, marking the highest figure in the same timeframe.
Conversely, the financial results also reveal challenges for Salona Cotspin. The net sales for the quarter stood at Rs 158.29 crore, which is the lowest recorded in the last five quarters and represents a decline of 13.1% compared to the average net sales of the previous four quarters. Additionally, interest expenses have surged to Rs 5.77 crore, reflecting a 58.52% increase quarter on quarter, indicating a rise in borrowing costs.
Overall, the financial results for Salona Cotspin highlight a complex landscape of operational efficiency alongside significant sales and cost pressures.
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