Nitin Spinners was locked in 10% upper circuit at Rs 232.10 after the company's net profit almost doubled to Rs 85.47 crore in Q4 FY22 from Rs 42.85 crore in Q4 FY21.
Revenue from operations rose by 50% YoY to Rs 769.06 crore during the quarter.
Total expenses increased by 43% to Rs 637.14 crore in Q4 FY22 over Q4 FY21, due to higher raw material costs (up 56% YoY) and higher other expenses (up 34% YoY).
Profit before tax in Q4 FY22 stood at Rs 132.43 crore, up by 99% from Rs 66.44 crore in Q4 FY21.
The company's net profit rose by 4.7 times to Rs 326.13 crore on a 66% increase in revenue from operations to Rs 2,692.31 crore in FY22 over FY21.
Nitin Spinners is one of the leading manufacturers of cotton yarn, knitted fabrics, greige and finished woven fabrics and a Government of India-recognized export house.
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