Are Kitex Garments latest results good or bad?
However, the financials also highlight several areas of concern. The company's Profit After Tax (PAT) decreased by 24% year-on-year to Rs 20.76 crore, while Profit Before Tax (PBT) saw a decline of 18.21% to Rs 27.48 crore. Additionally, the earnings per share (EPS) fell to Rs 1.04, and the debt-equity ratio increased to 0.15 times, suggesting a rise in borrowings to support operations.
The operating profit to interest ratio has reached its lowest point at 9.66 times, indicating a decline in the company’s ability to manage interest payments effectively. Furthermore, the operating profit margin (excluding other income) has also seen a decline.
Overall, while Kitex Garments has shown growth in net sales, the significant declines in profit metrics and increased leverage point to challenges that the company is currently navigating. It is also noted that the company saw an adjustment in its evaluation over the past three months.
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