Lagnam Spintex Q1FY23 Results: Check total revenue, PAT and more

Lagnam Spintex Q1FY23 Results: Lagnam Spintex Limited has announced its results for the period ended on June 30, 2022 in its board meeting held on 28th July 2022. Company also announced the Financial Closure for their upcoming Expansion project of Rs 218 crores, as per an official statement. 

The revenue from exports grew to Rs. 49.98 crores compare to Rs 40.78 crores in Q1FY22, a jump of more than 22%, the statement added.

In the same quarter of previous year, the company's total revenue stood at Rs 74.72 crores with a net profit of Rs 6.15 crores. 

The preceding quarter, ended on March 31, 2022, the revenue was Rs 101.66 crores with a net profit at Rs 7.10 crores which works out to be 6.98% of turnover as against 7.83% during the reported quarter, as per the company statement.

Commenting on the performance of the company, Anand Mangal, Promoter and Managing Director of Lagnam Spintex said, " The global supply chain remains disrupted on the back of the geopolitical crisis and prices of raw material remain elevated. Despite the tough situation the company continues to hold its ground amid the challenging macro environment and deliver a strong performance for another quarter, which enhances shareholders value. The company is committed towards achieving its long term goals and is on the right path for the same."