Harish Textile Engineers Slips Into Q4FY’2024 Net Loss

Mumbai headquartered Harish Textile Engineers slipped in to a loss in the fourth fiscal quarter ending March 31, 2024. However, the company reported an increase in sales in the same quarter.

The textile machinery manufacturer reported a net loss of Rs 0.86 crore in the January to March 2024 quarter compared to profit of Rs 1.23 crore in the same quarter of its earlier fiscal.

Sales in the reporting quarter increased 19.20 percent to Rs 35.82 crore vis-à-vis Rs 30.05 crore between January and March 2023.

For the full fiscal of 2023-24, net loss rose higher to Rs 0.28 crore versus net loss of Rs 0.03 crore in the year ago period.

However, sales grew in the previous fiscal to Rs 131.04 crore, an increase of 12.54 percent as against Rs 116.44 crore in the fiscal ending March 2023.

Harish Textile Engineers is a manufacturer of textile processing machineries and also nonwoven fabrics and regenerated polyester fibres.