Sutlej Textiles Q3: Shares up 3% as net loss narrows

Shares of Sutlej Textiles & Industries Ltd. surged over 3% after the company posted narrowing net loss for the third quarter of the current financial year.

The textile manufacturer's net loss went down to ₹16.2 crore from ₹25.7 crore for the quarter ended December 31.

Revenue declined 3% year-on-year to ₹635.8 crore, compared with ₹654.5 crore a year ago.

However, the company's operating performance improved despite lower revenue. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA)

rose to ₹16.5 crore from ₹3.8 crore in the year-ago period while EBITDA margin expanded by 200 basis points to 2.6% from 0.6% last year.

Based in Mumbai, Sutlej Textiles & Industries manufactures a wide range of textile products including yarns and fabrics.

The company's shares were last seen trading at ₹31.85 apiece on the NSE as of 1:24 pm, up 2.18% for the day.

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