24 Jun 2019 | 6:06 PM

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COMPANYNEWS
Nitin Spinners Q3 net profit down 14.14% at Rs 14.39 cr
  Nitin Spinners Ltd. | 24 Jun 2019 | 04:01 PM
Published on 02-08-2019
The company reported standalone net profit of Rs 14.39 crore for the quarter ended December 31 2018 as compared to Rs 16.76 crore in the same period last year registering a year-on-year decline of 14.14 per cent.


Net revenue of the company rose moderately by 10.73 per cent at Rs 317.90 crore in October-December quarter of this fiscal as against Rs 287.10 crore in the corresponding period last year.


During October-December quarter operating expenses increased by 10.59 per cent to Rs 275.32 crore from Rs 248.96 crore in year ago period.


Other Income dipped by 28.92 per cent at Rs 0.59 crore versus (Dec`17 Rs 0.83 crore).


Operating Profit surged by 11.64 per cent to Rs 42.58 crore as against Rs 38.14 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 0.75 per cent in December quarter.


Interest declined by 1.56 per cent y-o-y to Rs 6.96 crore while Taxation increased by 803.37 per cent at Rs 8.04 crore (Dec`17 Rs 0.89 crore).