The Q2, FY25 net profit of leading textile company, Nitin Spinners increased by 33 per cent increase to Rs 42 crore ($5 million) as against Rs 32 crore in the year-ago quarter.
The company recorded a 12 per cent rise in revenues for the quarter to Rs 823 crore, as against Rs 737 crore in the corresponding quarter of the previous fiscal year.
Majority of the company’s revenue was generated from exports which totaled Rs 522 crore while the domestic sales amounted to Rs 300 crore.
Dinesh Nolkha, Chairman and Managing Director, says, the company’s focus on value added segments, optimum utilisation of expanded capacities and cost efficiencies, helped it to achieve encouraging financial results during the quarter despite global challenges.
In the upcoming quarters, the company plans to leverage the low cotton prices to seize new opportunities in the sector and evaluate various growth options,
Founded in 1993, the Bhilwara-based Nitin Spinners offers a complete range of fabrics for fashion, apparel and work wear industry.
