The company’s net profit in the June quarter rose 83.6% year-on-year to ₹75.3 crore, compared with ₹41 crore in the year-ago period. Revenue from operations increased 10.3% to ₹875 crore from ₹793.3 crore.
Its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) grew 40% year-on-year to ₹155.5 crore, while the EBITDA margin expanded to 17.7% from 14% a year earlier.
The company’s board has also recommended the re-appointment of Rohit Swadheen Mehta as a non-executive independent director for a second consecutive five-year term. The proposed term will run from December 30, 2026 to December 29, 2031, subject to the required shareholder approval.
The company added that Rohit Swadheen Mehta is not debarred from holding the office of director by any order of the Securities and Exchange Board of India (SEBI) or any other such authority.
Earlier, on June 29, the firm had said that it is banking on its ongoing capacity expansion and the proposed free trade agreements (FTAs) with the UK and the European Union to drive its next phase of growth, with the company expecting higher margins and a jump in revenue once the new facilities are fully operational.
Chairman and Managing Director Dinesh Nolkha had said the expansion would strengthen the company’s earnings profile. “This new expansion should give us around an additional ₹1,000 crore of revenues. We are looking at total revenues of about ₹4,400 to ₹4,500 once the capacity is in full swing.”Shares of Nitin Spinners closed 1.29% higher at ₹579.75 on August 7 at NSE, ahead of the company’s earnings announcement on Saturday (August 8).
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