Padam Cotton Yarns posts 121.74% rise in net profit for Q3 FY2024

Padam Cotton Yarns reported a significant 121.74 per cent increase in net profit for the quarter ending December 2024, which rose to Rs 5.10 crore compared to Rs 2.30 crore in the same quarter last year. Growth is largely attributed to the company's improved sales performance, which was Rs 1.11 crore in Q3 FY2024, a sharp contrast to zero sales in the corresponding quarter of the previous year.

The company also saw a remarkable improvement in its operating performance, reflected in the substantial rise in both its profit before depreciation and tax (PBDT) and profit before tax (PBT), both of which turned positive after a loss in the previous year. The operational margin (OPM) for the period stood at -3.6 per cent, showing an improvement from the earlier negative figure.

The substantial rise in profit and sales highlights the company's strong recovery and growth, signalling a promising outlook for future quarters. The results underscore Padam Cotton Yarns ability to rebound strongly, marking a milestone in its financial performance for FY2024.