New Delhi (India), February 14: Lagnam Spintex Restricted, a number one producer of high-quality cotton yarns in India, has introduced its outcomes for the quarter ended on December thirty first, 2023 in its board assembly held on twelfth February 2024.

The income for this quarter Q3FY24 grew to Rs 123.63 Cr examine to Rs 72.16 crores in Q3FY23, a bounce of 71%. Lagnam is very excited to inform that the increase in Revenue was as a result of new product profile they’ve added as half of their growth mission and reached out to new markets each in Exports and Home.

Lagnam Spintex Q3FY24 Outcomes comparative:

  Q3FY24 Q2FY24 Q3FY23
Total Revenue Rs. 123.63 cr. Rs. 92.58 cr. Rs. 72.16 cr.
Export Turnover Rs. 62.02 cr. Rs. 40.83 cr. Rs. 15.11 cr.
Revenue After Tax Rs 4.63 cr. Rs. 1.30 cr. Rs 0.23 cr.
EPS (Fundamental & Diluted) 2.62 0.73 0.22
Lagnam Spintex Q3FY24 Outcomes comparative:

The Revenue After Tax for this quarter Q3FY24 grew to Rs 4.63cr examine to Rs 0.23 crores in Q3FY23, a multifold bounce. Equally, the Incomes Per Share (Fundamental & Diluted) in Q3FY24 is 2.62 examine to 0.22 in Q3FY23.

The Export Turnover has jumped from Rs 15.11 Cr in Q3FY23 to 62.02 cr. In Q3FY24. The export turnover contains of 50% of the whole income of the corporate. The increase in export income by 310% was seen in Q3FY24compare to Q3FY23 primarily as a result of of increase in export demand and additionally with our new product providing in high quality aware markets of Europe, Columbia, Egypt, Morocco, Peru and our present effectively set up market of Bangladesh, United States, Italy and so forth. 

Commenting on the efficiency of the corporate, Mr. Anand Mangal, Promoter and Managing Director of Lagnam Spintex stated, “There may be an uptick in Cotton yarn demand in this quarter and we’re thrilled that our growth mission completion was timed effectively with this market alternative. Our product high quality from growth mission is effectively accepted in each the Home and Export markets which is serving to us to increase our buyer base.”

Firm additionally knowledgeable that they’re transferring in a giant means in direction of renewable power and have commissioned 4.4 MW of Roof prime Photo voltaic mission and taking a look at including one other 0.5 MW shortly, this may save power price for the corporate.

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