Net profit of Reliance Spinning surges by over 72 percennt

KATHMANDU, NOVEMBER 17: As of the first quarter of the current fiscal year, Reliance Spinning Mills has reported a net profit exceeding NPR 86.7 million. It represents a 72.23 per cent compared to the corresponding period last year when such a profit of was recorded at NPR 50.3 million. The significant reduction in financial income has positively impacted the company’s net profit. During the first three months of 2023/24, the company incurred financial expenses of over NPR 472.6 million, while, during the same period this year, the expenses have decreased to more than NPR 104.3 million.

During the first quarter last year, the company reported operating profits of over NPR 572.7 million, which has now fallen to over NPR 202.1 million. The decrease in income from operations has led to a drop in operating profit. The operating income, which exceeded NPR 9.2 billion,  has reduced to over NPR 2.34 billion during the review period of 2024/25.

Currently, the company’s paid-up capital stands at NPR 1.70734 billion, with other equity exceeding NPR 5.4324 billion. The company’s long-term liabilities are over NPR 3.28 billion, while short-term liabilities exceed NPR 1.19 billion.