{"id":27292,"date":"2024-02-14T11:23:19","date_gmt":"2024-02-14T05:53:19","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/02\/14\/lagnam-spintex-reports-total-revenue-of-rs-123-63-crores-in-q3fy24-an-increase-of-71-from-q3fy23-and-multifold-increase-in-pat\/"},"modified":"2024-02-14T11:23:19","modified_gmt":"2024-02-14T05:53:19","slug":"lagnam-spintex-reports-total-revenue-of-rs-123-63-crores-in-q3fy24-an-increase-of-71-from-q3fy23-and-multifold-increase-in-pat","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/02\/14\/lagnam-spintex-reports-total-revenue-of-rs-123-63-crores-in-q3fy24-an-increase-of-71-from-q3fy23-and-multifold-increase-in-pat\/","title":{"rendered":"Lagnam Spintex reports Total Revenue of Rs 123.63 crores in Q3FY24 an increase of 71% from Q3FY23 and Multifold increase in PAT"},"content":{"rendered":"
\n

New Delhi (India), February 14:<\/strong> Lagnam Spintex Limited, a leading manufacturer of\u00a0high-quality\u00a0cotton yarns in India, has announced its results for the\u00a0quarter\u00a0ended on\u00a0December\u00a031st, 2023\u00a0in its board meeting held on\u00a012th\u00a0February\u00a02024.<\/p>\n

The revenue\u00a0for this quarter Q3FY24 grew to Rs\u00a0123.63\u00a0Cr compare\u00a0to Rs\u00a072.16\u00a0crores in Q3FY23,\u00a0a jump of\u00a071%. Lagnam is\u00a0very excited to\u00a0inform\u00a0that the increase in Revenue was due to the new product profile they have added\u00a0as part of their expansion project\u00a0and reached out to new markets both in Exports and Domestic.<\/p>\n

Lagnam Spintex Q3FY24\u00a0Results\u00a0comparative:<\/p>\n

The Profit After Tax for this quarter Q3FY24 grew to Rs\u00a04.63cr\u00a0compare\u00a0to Rs\u00a00.23\u00a0crores in Q3FY23, a\u00a0multifold\u00a0jump. Similarly, the Earning Per Share (Basic & Diluted)\u00a0in Q3FY24 is 2.62\u00a0compare\u00a0to 0.22\u00a0in Q3FY23.<\/p>\n

The Export Turnover has jumped from Rs 15.11\u00a0Cr\u00a0in Q3FY23 to 62.02 cr. In Q3FY24. The\u00a0export turnover\u00a0comprises of\u00a050% of the total revenue\u00a0of the company.\u00a0The increase\u00a0in export revenue\u00a0by 310% was seen\u00a0in Q3FY24compare\u00a0to\u00a0Q3FY23\u00a0mainly because of\u00a0increase in\u00a0export demand and also with our new\u00a0product offering in quality conscious markets\u00a0of Europe,\u00a0Columbia, Egypt, Morocco, Peru and our existing well establish market of Bangladesh, United States, Italy etc.\u00a0<\/p>\n

Commenting on the performance of the company, Mr. Anand Mangal, Promoter and Managing Director of Lagnam Spintex said, \u201cThere is an uptick\u00a0in Cotton yarn demand\u00a0in this quarter and we are thrilled that our expansion project completion was timed well with this market opportunity.\u00a0Our\u00a0product quality from expansion project\u00a0is well accepted in both the Domestic and Export markets\u00a0which\u00a0is\u00a0helping\u00a0us to\u00a0increase our customer\u00a0base.\u201d<\/p>\n

Company also informed that they are moving in a big way towards renewable energy and have commissioned 4.4 MW of Roof top Solar project and looking at adding another 0.5 MW shortly, this will save energy cost for the company.<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

New Delhi (India), February 14: Lagnam Spintex Limited, a leading manufacturer of\u00a0high-quality\u00a0cotton yarns in India, has announced its results for the\u00a0quarter\u00a0ended on\u00a0December\u00a031st, 2023\u00a0in its board meeting held on\u00a012th\u00a0February\u00a02024. The revenue\u00a0for this quarter Q3FY24 grew to Rs\u00a0123.63\u00a0Cr compare\u00a0to Rs\u00a072.16\u00a0crores in Q3FY23,\u00a0a jump of\u00a071%. Lagnam is\u00a0very excited to\u00a0inform\u00a0that the increase in Revenue was due to the new…<\/p>\n

Read More “Lagnam Spintex reports Total Revenue of Rs 123.63 crores in Q3FY24 an increase of 71% from Q3FY23 and Multifold increase in PAT”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":27293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[638],"tags":[641],"class_list":["post-27292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-finance"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/27292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=27292"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/27292\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/27293"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=27292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=27292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=27292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}