Kathmandu. Reliance Spinning Mills Limited has increased its net profit by 342.6 percent in the first quarter of the current financial year 2083/84. According to the company’s first quarter unrevised financial statements, the net profit has increased to Rs 30.48 crore during the review period.

The company had posted a net profit of Rs 6,88,90,000 in the same period last year. The company’s net profit improved significantly compared to the previous year.

The operating income of the company has also increased during the review period. The company has earned an operating income of Rs 3.20 billion in the first three months of the current financial year. Such income was Rs 2.48 billion in the same period of the previous financial year. Accordingly, operating income increased by 28.8 percent.

Similarly, the total profit of the company has also increased. The total profit of the company has increased to Rs 56.16 crore in the review period of the current financial year from Rs 29.62 crore in the first quarter of the previous financial year.

The operating profit of the company also increased to Rs 40.57 crore from Rs 16.91 crore. On the other hand, financial expenses have decreased. Financial expenses have decreased to Rs 4.38 crore in the review period from Rs 8.72 crore in the first quarter of the previous year.

Similarly, the company’s profit before tax stood at Rs 36.18 crore. Such profit was Rs 8.19 crore in the same period of the previous financial year. During the review period, the company has allocated income tax expenses of Rs 5.69 crore.

According to the financial statement, the company has EPS of Rs 63.97 and net worth per share of Rs 489.53.

The company’s paid-up capital stood at Rs 1.90 billion. The total assets of the company stood at Rs 14.26 billion during the review period.