HP Cotton Textile Mill Posts Turnaround In H1FY’24 Net Profit

Manufacturer of cotton yarns and sewing threads, HP Cotton Textile Mills reported a turnaround in net profit by posting a profit in the first six months of fiscal 2024 ending September 2023.

The Haryana based company recorded a net profit of Rs 4.41 crores between April and September 2023, as compared to a loss of Rs 3.64 crores for the comparable period of earlier fiscal.

The company reported total income of Rs 49.71 crores during the reporting period as against Rs 39.38 crores during the six months period ending September 30, 2022.

EPS stood of Rs 11.31 in the period under review when compared with a negative Rs 9.41 for the April to September 2022 months.

In the second quarter ended September 30, 2023, total income at HP Cotton was Rs 23.07 crores, up from Rs 18.70 crores in the same months of previous year.

Here too the Kailash Kumar Agarwal led company posted a turnaround in net profit at Rs 5.34 crores, when compared with a net loss of Rs 2.23 crores in the year ago quarter.

EPS for the reporting quarter amounted to Rs13.66 as against a negative EPS of Rs 5.77 in the second quarter ending September 30, 2022.