Lagnam Spintex reports Total Revenue of Rs 92.58 crores in Q2FY24 an increase of 47% from Q2FY23

New Delhi (India), November 16: Lagnam Spintex Limited, a leading manufacturer of high-quality cotton yarns in India, has announced its results for the period ended on September 30, 2023, in its board meeting held on 9^th November 2023. 

The revenue for this quarter, Q2FY24, grew to Rs 92.58 cr compared to Rs 63.05 crores in Q2FY23, a jump of 47%. Lagnam is very excited to inform you that the increase in Revenue was due to the new product profile they have added as part of their expansion project and reached out to new markets both in Exports and Domestic. In exports, we have increased our volumes in countries like Turkey, Peru, Morocco, Argentina, and South Korea, to name a few. Lagnam expects their expansion project of 41472 spindles to be completed ahead of schedule date of 1^st April 2024. This expansion project will double its capacity from 35 metric tonnes per day to 70 metric tonnes per day.