Nitin Spinners Ltd Q3 FY2024 net profit increases to Rs. 31.74 crores

Nitin Spinners Limited has reported Standalone financial results for the period ended December 31, 2023.

Financial Results (Q3 FY2024) - QoQ Comparison

The company has reported total income of Rs. 750.7207 crores during the period ended December 31, 2023 as compared to Rs. 737.7206 crores during the period ended September 30, 2023.

The company has posted net profit / (loss) of Rs. 31.7473 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs. 31.6989 crores for the period ended September 30, 2023.

The company has reported EPS of Rs. 5.65 for the period ended December 31, 2023 as compared to Rs. 5.64 for the period ended September 30, 2023.

Financials	Q3 FY2024	Q2 FY2024	% Change
Total Income	₹ 750.7207 crs	₹737.7206 crs	1.76%
Net Profit	₹31.7473 crs	₹31.6989 crs	0.15%
EPS	₹5.65	₹5.64	0.18%

Financial Results (Q3 FY2024) - YoY Comparison

The company has reported total income of Rs. 750.7207 crores during the period ended December 31, 2023 as compared to Rs.537.4878 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.31.7473 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs.31.5824 crores for the period ended December 31, 2022.

The company has reported EPS of Rs.5.65 for the period ended December 31, 2023 as compared to Rs.5.62 for the period ended December 31, 2022.

Financials	Q3 FY2024	Q3 FY2023	% Change
Total Income	₹ 750.7207 crs	₹537.4878 crs	39.67%
Net Profit	₹31.7473 crs	₹31.5824 crs	0.52%
EPS	₹5.65	₹5.62	0.53%

Financial Results (9 Months Ended FY2024) - YoY Comparison

The company has reported total income of Rs.2106.5667 crores during the 9 Months period ended December 31, 2023 as compared to Rs.1753.8573 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.92.3445 crores for the 9 Months period ended December 31, 2023 as against net profit / (loss) of Rs.126.2748 crores for the 9 Months period ended December 31, 2022.

The company has reported EPS of Rs.16.43 for the 9 Months period ended December 31, 2023 as compared to Rs.22.46 for the 9 Months period ended December 31, 2022.

Financials	9 Months Ended FY2024	9 Months Ended FY2023	% Change
Total Income	₹2106.5667 crs	₹1753.8573 crs	20.11%
Net Profit	₹92.3445 crs	₹126.2748 crs	-26.87%
EPS	₹16.43	₹22.46	-26.85%

Shares of Nitin Spinners Limited was last trading in BSE at Rs. 348.55 as compared to the previous close of Rs. 324.30. The total number of shares traded during the day was 29544 in over 1143 trades.

The stock hit an intraday high of Rs. 360.00 and intraday low of 315.15. The net turnover during the day was Rs. 10285158.00.

Source : Equity Bulls

Keywords

NitinSpinners Q3FY24 9MFY24 ResultUpdate