Net Loss Rises Higher At HP Cotton Textile Mills In Q4FY’24

Net loss rose higher at HP Cotton Textile Mills to Rs 3.84 crore in the fourth fiscal quarter ending March 31, 2024, up 40.89 percent as against net loss of 2.27 crore in the same quarter of earlier fiscal

The company reported total income of Rs 19.68 crores during the period ending March 31, 2024, falling by 3.58 percent as compared to Rs 20.41 crores during the quarter ending March 31, 2023.

In the reporting quarter, loss per share was however lower at Rs 5.78 vis-à-vis loss per share of Rs 9.87 in the fourth fiscal quarter ending March 31, 2023.

For fiscal 2023-24, HP Cotton posted total income at Rs 95.36 crores, an increase of 10.81 percent over Rs 86.06 crores during fiscal 2022-23.

However, the company managed to turnaround loss in to profit in the previous fiscal at Rs 0.90 crore compared to a net loss of Rs 18.07 crores in fiscal ending March 31, 2023.

Earnings per share also turned positive at Rs 2.35 for fiscal ending March 31, 2024 against a loss per share of Rs 46.66 for fiscal 2022-23.

HP Threads is a brand from HP Cotton Textile Mills, which is one of largest exporters of cotton sewing threads from India.