27 Jun 2019 | 7:11 PM

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COMPANYNEWS
Nitin Spinners Q4 net profit down 7.19% at Rs 14.59 cr
  Nitin Spinners Ltd. | 27 Jun 2019 | 04:01 PM
Published on 05-11-2018
The company reported standalone net profit of Rs 14.59 crore for the quarter ended March 31 2018 as compared to Rs 15.72 crore in the same period last year registering a year-on-year decline of 7.19 per cent.


Net revenue of the company rose by 0.44 per cent at Rs 286.45 crore in January-March quarter of this fiscal as against Rs 285.20 crore in the corresponding period last year.


During January-March quarter operating expenses dropped by 1.42 per cent to Rs 244.49 crore from Rs 248.01 crore in year ago period.


Other Income grew by 0.00 per cent at Rs 0.45 crore versus (Mar'17 Rs 0.00 crore).


Operating Profit surged by 12.34 per cent to Rs 41.96 crore as against Rs 37.35 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 11.83 per cent in March quarter.


Interest grew by 10.25 per cent y-o-y to Rs 6.99 crore while Taxation increased by 111.95 per cent at Rs 7.27 crore (Mar'17 Rs 3.43 crore).