HP Cotton Textiles reported a decline in sales and a wider net loss for the quarter ending March 2024.
- Net Sales: Sales dipped 4.51% to Rs 19.07 crore compared to Rs 19.97 crore in the same quarter last year.
- Net Loss: The company’s quarterly net loss widened by 40.99% to Rs 2.26 crore from Rs 1.83 crore a year ago.
- EBITDA: EBITDA, a measure of profitability before interest, taxes, depreciation, and amortisation, remained negative at Rs 0.14 crore. This represents an 89.06% increase in negative EBITDA compared to Rs 1.28 crore in March 2023.
Despite the negative performance, HP Cotton’s share price closed at Rs 128.00 on the BSE on May 16, 2024. However, the stock has delivered modest returns of -1.50% in the last 6 months but remains up 33.81% over the past year.
