Nitin Spinners Reports Solid Q4 FY2023 Results with Revenue Growth and Dividend Declaration
Nitin Spinners announced robust Q4 FY2023 results, with revenue up 11.83% to ₹839.50 crore, EBITDA increasing 14.37% to ₹117.80 crore, and net profit surging 40.88% to ₹44.80 crore year-over-year. The company declared a dividend of ₹3.00 per share. Annual revenue for FY2023 grew 20.66% to ₹2,907.90 crore, with EBITDA up 26.26% to ₹379.30 crore. Operating Profit Margin improved slightly to 13.97%, and interest expenses decreased by 17.86%, indicating improved operational efficiency and debt management.