Lagnam Spintex profit zooms 380% Y-o-Y in Q4

Lagnam Spintex, a leading Indian cotton yarn manufacturer, announced strong financial results for the year ending March 31, 2024. The company's revenue and profit surged thanks to a strategic expansion project completed ahead of schedule.

Revenue in Q4FY24 jumped 66 per cent year-over-year to Rs 149.82 crore, while Profit After Tax (PAT) skyrocketed 380 per cent to Rs 7.30 crore. For the entire fiscal year, PAT reached Rs 14.57 crore on a total income of Rs 437.79 crore.

The early completion of their Rs 218 crore expansion project gave Lagnam a competitive cost advantage and boosted sales. Their new "Compact yarn" was particularly well-received, expanding their customer base domestically and internationally.

Lagnam Spintex's Managing Director, Anand Mangal, expressed his delight at the expansion project's progress. He attributed the company's strong performance to the exceptional quality of their new Compact yarn.

Lagnam Spintex's commitment to innovation and customer satisfaction has solidified their position as a cotton yarn leader. With continued strategic initiatives, they plan to further strengthen their market position and deliver exceptional products to customers worldwide.