Niwaka Fashions Q1 results: Loss widened by how much YOY? Know here
BUSINESS: Niwaka Fashion Q1 Results Niwaka Fashion announced its Q1 results on August 14, 2024. The financial performance of the quarter showed a significant decline in revenue and a substantial increase in losses. Topline revenue for Niwaka Fashion declined by 60.09% year-on-year (YoY), indicating a challenging quarter for the company. Concurrently, the net loss widened to 172.12% YoY. Compared to the previous quarter, the financial downturn was even more pronounced. Revenue saw a sharp decline of 87.59% quarter-on-quarter (QoQ), while the net loss widened to an extraordinary 4669.81% QoQ. These figures indicate the severe operational and financial difficulties faced by the company in recent months. On a more positive note, the company’s selling, general, and administrative (SG&A) expenses saw a reduction, reflecting efforts to manage costs amid financial stress.
SG&A expenses declined by 72.72% quarter-on-quarter and 12.93% year-on-year,
indicating improved efficiency in certain operating areas. Despite the overall negative financial performance, Niwaka Fashions recorded a marginal improvement in operating income on a quarterly basis. Operating income grew by 5.89% quarter-on-quarter, although it still saw a decline of 24.82% year-on-year. This indicates that while the company continues to grapple with revenue and loss challenges, there are certain areas where operating performance is stabilizing. Earnings per share (EPS) for the first quarter stood at ₹-0.02, reflecting a significant decline of 172.15% year-on-year. This further underscores the financial difficulties faced by the company in the current economic environment. As Niwaka Fashions navigates through these difficult times, the focus will be on strategic adjustments and cost management to return the company to a more stable financial position.
