New Light Apparels Ltd. reported weak quarterly results for the quarter ended March 2023. The company’s standalone net sales decreased by 15.18% year-over-year to Rs. 1.43 crore. Net loss also widened by 75.21% to Rs. 0.92 crore. EBITDA stood at a negative Rs. 0.86 crore, down 50.88% from the previous year.
The company’s weak performance was driven by a number of factors, including lower sales and higher costs. Sales of apparels declined in the quarter, due to weak demand in the domestic market. The company also faced higher costs, due to rising raw material prices.
The weak quarterly results are a sign that New Light Apparels is facing challenges. The company needs to take steps to improve its sales and reduce its costs in order to return to profitability.
Key Highlights
- Standalone net sales down 15.18% year-over-year to Rs. 1.43 crore
- Net loss widens to Rs. 0.92 crore
- EBITDA stands negative at Rs. 0.86 crore
- Sales of apparels decline
- Higher raw material prices
- Weak quarterly results are a sign that the company is facing challenges
Positive Highlights
- The company’s share price has increased by 47.89% over the last 6 months and 64.71% over the last 12 months.
- This suggests that investors are still bullish on the company’s long-term prospects.
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