Losses Deepen for Loyal Textile Mills in Q2 2024, Shares Plummet with ₹29.34 per Share Loss.

Loyal Textile Mills has reported its financial results for the second quarter of 2024. Unfortunately, the company experienced a significant decline in its performance compared to the same period last year. The key financial results revealed a loss of ₹29.34 per share, a significant deterioration from ₹3.13 loss per share in the second quarter of 2023. The net loss widened by ₹126.2m to reach ₹141.3m, indicating a concerning trend for the company. Additionally, the revenue for the quarter stood at ₹2.48 billion, reflecting a 29% decrease compared to the second quarter of the previous year. These disappointing figures have sent shockwaves through the market, causing Loyal Textile Mills' shares to drop by 1.1% from the previous week.