Revenue rises across India's leading spinning companies in Q3 FY24

Filatex India Ltd

Filatex India Ltd, a leading manufacturer of polyester filament yarn and polypropylene filament yarn, showcased a robust improvement in its financial metrics. The company's revenue increased to ₹1,082.95 crore in December 2023 from ₹1,070.38 crore in December 2022. Total income rose to ₹1,085.81 crore from ₹1,064.08 crore over the same period. A significant leap was observed in profit before tax (PBT), which surged to ₹47.73 crore from a mere ₹4.25 crore. Net profit followed suit, escalating to ₹35.10 crore from ₹2.74 crore. The earnings per share (EPS) saw a dramatic rise to ₹0.79 from ₹0.06. Operational profit margin (OPM) doubled to 7.17 per cent from 3.56 per cent, and net profit margin (NPM) increased to 3.24 per cent from 0.26 per cent.

Trident Ltd

Diversified textile fabric manufacturer Trident Ltd experienced growth in revenue in Q3 FY24, reaching ₹1,823.28 crore up from ₹1,618.40 crore in Q3 FY23. Total income saw a similar increase to ₹1,837.04 crore from ₹1,624.73 crore. However, the company witnessed a decline in profitability, with PBT decreasing to ₹143.87 crore from ₹183.26 crore, and net profit falling to ₹107.42 crore from ₹142.04 crore. EPS dropped to ₹0.21 from ₹0.28. Despite revenue growth, both OPM and NPM saw decreases to 14.98 per cent and 5.89 per cent from 17.24 per cent and 8.78 per cent, respectively.

Nitin Spinners Ltd

Leading manufacturer of cotton yarn and knitted fabric Nitin Spinners Ltd reported substantial revenue growth in Q3 FY24, with figures reaching ₹750.43 crore from ₹537.20 crore in Q3 FY23. Total income slightly increased to ₹750.72 crore from ₹537.49 crore. PBT grew to ₹43.09 crore from ₹31.18 crore, while Net profit saw a marginal increase to ₹31.75 crore from ₹31.58 crore. EPS improved slightly to ₹5.65 from ₹5.62. The company also saw an improvement in OPM to 13.73 per cent from 11.25 per cent, though NPM decreased to 4.23 per cent from 5.88 per cent.

Nahar Spinning Mills Ltd

Nahar Spinning Mills Ltd, engaged in the manufacture and export of woollen textiles, reported a challenging quarter, with revenue growing to ₹757.87 crore from ₹554.41 crore, and total income to ₹759.97 crore from ₹561.59 crore. However, the company faced increased losses, with PBT at minus ₹20.14 crore compared to minus ₹14.37 crore, and net profit at minus ₹15.21 crore from minus ₹11.02 crore. EPS worsened to minus ₹4.22 from minus ₹3.05. OPM saw a slight improvement to 2.51 per cent from 1.77 per cent, but NPM remained almost unchanged at minus 2.01 per cent from minus 1.99 per cent.

Fibre2Fashion News Desk (DP)