. Reliance Spinning Mills Limited has made a turnover of over Rs 10.45 billion in the fourth quarter of the fiscal year 2082/83. Despite the increase in production and sales, the company’s profit has been pressured due to fluctuations in the US dollar exchange rate.

According to the company’s unrevised financial statements, the company earned an operating income of Rs 10.45 billion in the review period.TAG_OPEN_p_13 The company had posted a turnover of Rs 10.23 billion in the same period last year.

The company posted a net profit of Rs 39.TAG_OPEN_p_12 09 crore in the review period. Although the profit decreased compared to the previous year, the operating profit reached Rs 740.6 million. The company’s gross profit stood at Rs 1.38 billion.

Reliance said that the financial results were affected by changes in the exchange rate of the dollar due to liabilities in foreign currency. According to the company, the foreign exchange deficit of about Rs 200 million has been included in administrative and other expenses. However, a part of it is unrealistic losses, the company said.

The total assets of the company stood at Rs 13.99 billion and total equity stood at Rs 9.56 billion.TAG_OPEN_p_10 The stock has increased to Rs 49.42 crore. The total liability is limited to Rs 4.43 billion.

Financial indicators have also looked satisfactory. The company has an annualized earnings per share (EPS) of Rs 22.04. The net worth per share has reached Rs 503.32 and the total asset value per share is Rs 736.50. The liquidity ratio of the company is 2.07x, indicating that it has strong short-term liabilities.

The company has been able to maintain double-digit turnover of billions of rupees despite fluctuations in the prices of raw materials such as cotton and polyester, competition in the international market and foreign exchange risk.TAG_OPEN_p_8 But the impact of the dollar and rising fiscal spending have limited profit growth, the financial data showed.