24 Jun 2019 | 10:12 PM

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COMPANYNEWS
Nitin Spinners Q2 net profit down 40.85% at Rs 8.31 cr
  Nitin Spinners Ltd. | 24 Jun 2019 | 04:01 PM
Published on 11-14-2017
The company reported standalone net profit of Rs 8.31 crore for the quarter ended September 30 2017 as compared to Rs 14.05 crore in the same period last year registering a year-on-year decline of 40.85 per cent.


Net revenue of the company rose substantially by 37.77 per cent at Rs 284.45 crore in July-September quarter of this fiscal as against Rs 206.47 crore in the corresponding period last year.


During July-September quarter operating expenses increased by 43.50 per cent to Rs 250.96 crore from Rs 174.89 crore in year ago period.


Other Income grew by 7800.00 per cent at Rs 0.79 crore versus (Sep'16 Rs 0.01 crore).


Operating Profit surged by 4.69 per cent to Rs 33.49 crore as against Rs 31.99 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 24.02 per cent in September quarter.


Interest grew by 47.41 per cent y-o-y to Rs 7.40 crore while Taxation increased by 45.95 per cent at Rs 4.32 crore (Sep'16 Rs 2.96 crore).