Sri Lakshmi Saraswathi Textiles (Arni) Reports Mixed Performance in Q2 2024
Sri Lakshmi Saraswathi Textiles (Arni) has recently announced its financial results for the quarter ending September 2024. The company, which operates in the textile industry and is classified as a microcap, has received a 'Strong Sell' rating from MarketsMOJO.
According to the financial report, Sri Lakshmi Saraswathi Textiles (Arni) has seen a negative performance in the second quarter of the fiscal year 2024-2025. However, there has been a slight improvement in the company's score, which has gone from -21 to -10 in the last three months.
One of the positive aspects of the company's financials is its operating profit (PBDIT) for the quarter, which stands at Rs -2.97 crore, the highest in the last five quarters. The near-term trend for operating profit is also positive.
On the other hand, the company's operating cash flow has been consistently falling over the last three years, with the lowest being Rs 3.76 crore in the last fiscal year. This indicates a decline in the company's cash revenues from business operations.
The net sales for the quarter have also seen a significant decrease of -18.7% compared to the average net sales of the previous four quarters. This is a cause for concern as the near-term sales trend is very negative.
In terms of profit after tax (PAT), the company has seen a growth of -31.47% year on year, with the current figure standing at Rs -11.46 crore. The near-term trend for PAT is also negative.
Overall, the financial results for the quarter ending September 2024 show a mixed performance for Sri Lakshmi Saraswathi Textiles (Arni). Investors are advised to carefully consider the company's financials before making any investment decisions.
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