Polyspin Exports Reports 162% Surge in Q1 Net Profit, Driven by Strong Performance in FIBC Segment
Polyspin Exports Limited reported a significant increase in financial performance for Q1 ended June 30. Standalone net profit rose 162% to Rs 114.15 lakhs from Rs 43.52 lakhs in the previous quarter. Revenue from operations slightly declined to Rs 5,736.20 lakhs. Consolidated net profit reached Rs 140.09 lakhs. FIBC segment profit before tax and finance cost increased to Rs 331.47 lakhs. Basic EPS stood at Rs 1.14 for standalone and Rs 1.40 for consolidated operations. The company discontinued its Cotton Yarn operations in June 2023.