Nitin Spinners Q4 net profit jumps 99.42% at Rs 85.47 cr
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The company reported standalone net profit of Rs 85.47 crore for the quarter ended March 31, 2022 as compared to Rs 42.86 crore in the same period last year, registering a year-on-year growth of 99.42 per cent. Net revenue of the company rose substantially by 50.33 per cent at Rs 769.07 crore in January-March quarter of this fiscal as against Rs 511.58 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 47.68 per cent to Rs 601.62 crore from Rs 407.37 crore in year ago period.
Other Income grew by 205.88 per cent at Rs 0.52 crore versus (Mar'21 Rs 0.17 crore). Operating Profit surged by 60.67 per cent to Rs 167.45 crore as against Rs 104.22 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 6.87 per cent in March quarter. Interest declined by 11.55 per cent y-o-y to Rs 14.01 crore, while Taxation increased by 99.11 per cent at Rs 46.97 crore (Mar'21 Rs 23.59 crore).
