17 Jul 2019 | 6:58 AM


Nitin Spinners Q3 net profit up 10.48% at Rs 16.76 cr
  Nitin Spinners Ltd. | 16 Jul 2019 | 04:01 PM
Published on 01-30-2018
The company reported standalone net profit of Rs 16.76 crore for the quarter ended December 31 2017 as compared to Rs 15.17 crore in the same period last year registering a year-on-year growth of 10.48 per cent.

Net revenue of the company rose moderately by 15.69 per cent at Rs 287.10 crore in October-December quarter of this fiscal as against Rs 248.17 crore in the corresponding period last year.

During October-December quarter operating expenses increased by 16.01 per cent to Rs 248.96 crore from Rs 214.60 crore in year ago period.

Other Income grew by 0.00 per cent at Rs 0.83 crore versus (Dec'16 Rs 0.00 crore).

Operating Profit surged by 13.34 per cent to Rs 38.14 crore as against Rs 33.65 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 1.99 per cent in December quarter.

Interest grew by 39.72 per cent y-o-y to Rs 7.07 crore while Taxation decreased by 74.20 per cent at Rs 0.89 crore (Dec'16 Rs 3.45 crore).