Lagnam Spintex Q3FY22 Result: PAT zooms to 107% at Rs 9.40 cr

 Lagnam Spintex Limited has announced its Q3FY22 Result in its board meeting held on 15th January 2022.

The company reported an enhanced income of Rs 91.16 crores for Q3FY22 as compared to Rs 62.8 crores for Q3FY21. The income during the Nine months ending December 2021 jumped to Rs 247 crore as compared to Rs 132 crores during the previous nine months ending December 2020, a jump of 87.12%, as per details given by Lagnam Spintex.

Profit After Tax (PAT) for the quarter ended December 2021 zoomed to 107 % at Rs 9.40 crores, against Rs 4.54 crores during the previous quarter ended December 2020. During the Nine months ending December 2021 PAT increased to Rs 21.70 crore as against loss of Rs 1.71 crores during the previous nine months ended December 2020, a jump of 1368% YoY, the company statement added.

The Earnings per equity share stands at Rs 5.32 for the Quarter Ending December 2021 an increase of 107% from the corresponding quarter ended December 2020. The EPS for Nine months ending December 2021 is Rs 12.28 as compared to Rs (0.97) for nine months ending December 2020, a jump of 1166% YoY. Pursuant to strong results, the Board of Directors has declared interim dividend of 5%. Lagnam had also declared a dividend of 5% for the year ended 31st March 2021.

The company also reported that its export revenue reached Rs 54.25 crores for Q3FY22 compared to Rs 31.05 crores in the corresponding quarter Q3FY21, a jump of 74.7%. 

Commenting on the announcements of Q3FY22 results, Anand Mangal MD of Lagnam Spintex Ltd said, "Our continuous growth is a big testimony of how quality products are liked and encouraged by clients. Our growth acts as a great motivational force to expand our horizon and scale new heights."