Azgard Nine Releases Financial Results for Q1 Fiscal Year 2017-18

Azgard Nine announced its financial results for the three months ended  September 30,2017 (1st Quarter).

The company’s profit clicked in at Rs. 15 million after erasing previous year’s losses of Rs. 167 million in the same quarter last year. The earnings per share of the company reached to Rs. 0.03 Rupees per share as compared to Rs. -0.37 in the same period of last year.

Company’s Gross Profit for the period increased by 73.23% reaching 584.98 million against 337 million same quarter last year. On the flip side, company’s Selling & Distribution expenses increased by 44% with an 81% decline in Other Income

Company’s Operating Profit due to a retarded growth in Cost of Sales against the Sales increase went up by 169% The company’s script at the bourse was trading at Rs. 15.05 up by Rs. 0.01 or 0.07% with a turnover of 2.36 million shares as the benchmark index was down to 411 points trading at 39620 index level.

Azgard Nine Limited is a  public limited company, which is engaged in the production and marketing of denim-focused textile and apparel products ranging from raw cotton to retail ready goods.

The Company operates as a spinning, weaving, dyeing and stitching unit engaged in the manufacturing of yarn, denim and denim products. It operates in three segments: Spinning, Weaving and Garments.