Sutlej Textile & Industries suffered a significant financial blow in the third fiscal quarter ending December 31, 2023, with a net loss plunging 93.82 per cent to Rs 30.08 crore compared to the same period last year. However, the decline in net loss slowed down compared to the previous quarter, indicating a potential improvement trajectory.
The company’s revenues declined by 8.6 per cent Y-o-Y and 17.34 per cent Q-o-Q to Rs 607.47 crore. Its selling, general, and administrative expenses decreased by 11.95 per cent Y-o-Y and Q-o-Q. Operating income of the company plummeted by 157.54 per cent Y-o-Y during the quarter while rising by 45.11 per cent Q-o-Q.
In the coming quarters, the company could benefit from continued cost control measures and potential improvements in revenue.
