Butterfly Gandhimathi Q4FY22 dips to net loss of Rs-19.38 crore on higher inventory costs and exceptional credit losses

12 May 2022 , 06:12 PM

Butterfly Gandhimathi reported -3.04% fall in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs199.96 crore.

On a sequential basis, revenues were lower for the quarter by -22.64%. For the full year FY22, the revenues were higher by 15.5% at Rs1,005 crore.

For Q4FY22, the sales were impacted by rising credit receivable losses and the lag effect of COVID-19.

The supply chain constraints caused by the Ukraine war has also impacted the sales numbers for the current quarter, amidst inventory piling.

The consolidated net loss for Q4FY22 was came in at Rs-19.38 crore compared to net profit of Rs8.85 crore in the previous year quarter.

During the quarter, the company witnessed huge working capital locked into inventories and that resulted in losses.

The company also took a credit loss provision of Rs.6.6 crore due to debts unlikely to be recovered. Net margins stood at -9.69% in Q4FY22 quarter compared to 4.29% in Q4FY21 and 3.52% in Q3FY22. An interim dividend of Rs.3 per share has been declared.

Financial highlights for Mar-22 compared yoy and sequentially

	Butterfly Gandhimathi
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 199.96	₹ 206.23	-3.04%	₹ 258.49	-22.64%
Net Profit (Rs cr)	₹ -19.38	₹ 8.85	N.A.	₹ 9.09	N.A.
Diluted EPS (Rs)	₹ -10.84	₹ 4.95		₹ 5.08
Net Margins	-9.69%	4.29%		3.52%