- All
- Important
- Financial Update
- Fund Raise
- Board Meeting
- Dividend/Bonus
- JV/Acquisition
- Investor Meet
- Insider Trade
- Pledging
- Others
Loading...
**Indian Terrain Fashions Limited has announced a board meeting on 12th November 2024 to discuss its financial results for the quarter and half-year.**
Consolidated revenue from operations for the quarter stood at ₹85.83 crore, reflecting a growth of 25.61% compared to ₹68.36 crore in the previous quarter, primarily driven by increased demand and successful market expansion efforts. However, year-over-year, revenue dropped from ₹140.36 crore, highlighting a significant decline in sales, potentially attributed to market challenges.
The company reported a net loss of ₹21.78 crore for the quarter, worsening from a loss of ₹15.27 crore in the previous quarter and compared to a loss of ₹8.25 crore in the same quarter last year. The decline in profitability stems from higher operational costs, notably in purchasing finished goods, which increased to ₹64.13 crore, up 58.83% from ₹40.39 crore in Q1.
On the cost front, overall expenses rose by 10.79% to ₹99.82 crore, with notable increases in employee benefits and other operating costs. The total assets decreased from ₹522.46 crore to ₹464.72 crore, and current liabilities remained elevated at ₹247.11 crore, causing liquidity concerns.
The current financial turbulence may affect market sentiment. With ongoing cost management initiatives and a focus on demand recovery, investor insight leans towards a *hold* as the company navigates these challenges while exploring strategic adjustments.