Nitin Spinners Ltd Q1 FY2023-24 PAT slides to Rs. 28.89 crores

Nitin Spinners Limited has reported Standalone financial results for the period ended June 30, 2023.

Financial Results (Q1 FY2024) - QoQ Comparison

The company has reported total income of Rs. 618.1254 crores during the period ended June 30, 2023 as compared to Rs. 656.1596 crores during the period ended March 31, 2023.

The company has posted net profit / (loss) of Rs. 28.8986 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs. 38.5357 crores for the period ended March 31, 2023.

The company has reported EPS of Rs. 5.14 for the period ended June 30, 2023 as compared to Rs. 6.85 for the period ended March 31, 2023.

Financials	Q1 FY2024	Q4 FY2023	% Change
Total Income	₹ 618.1254 crs	₹656.1596 crs	-5.80%
Net Profit	₹28.8986 crs	₹38.5357 crs	-25.01%
EPS	₹5.14	₹6.85	-24.96%

Financial Results (Q1 FY2024) - YoY Comparison

The company has reported total income of Rs. 618.1254 crores during the period ended June 30, 2023 as compared to Rs.709.6515 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs.28.8986 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs.65.58 crores for the period ended June 30, 2022.

The company has reported EPS of Rs.5.14 for the period ended June 30, 2023 as compared to Rs.11.66 for the period ended June 30, 2022.

Financials	Q1 FY2024	Q1 FY2023	% Change
Total Income	₹ 618.1254 crs	₹709.6515 crs	-12.90%
Net Profit	₹28.8986 crs	₹65.58 crs	-55.93%
EPS	₹5.14	₹11.66	-55.92%

Shares of Nitin Spinners Limited was last trading in BSE at Rs. 237.25 as compared to the previous close of Rs. 240.10. The total number of shares traded during the day was 14003 in over 513 trades.

The stock hit an intraday high of Rs. 243.25 and intraday low of 235.00. The net turnover during the day was Rs. 3334204.00.

Source : Equity Bulls

Keywords

NitinSpinners Q1FY24 ResultUpdate