Net profit of Nitin Spinners rose 21.21% to Rs 15.43 crore in the quarter ended June 2018 as against Rs 12.73 crore during the previous quarter ended June 2017. Sales rose 4.46% to Rs 300.07 crore in the quarter ended June 2018 as against Rs 287.25 crore during the previous quarter ended June 2017.

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Nitin Spinners announced that the Government of Rajasthan Vide Notification dated 01 August 2018 approved Customized package under RIPS, 2O14 for expansion project of the Company through setting of new unit at Bhanwariya Kalan Teh. Bengu Distt. Chittorgarh. As per theNotification, the company shall be entitled for following benefits:

1. 5% lnterest Subsidy available for 7 years as per scheme
2. 75% exemption from payment of Electricity Duty for 10 years
3. Other benefits as provided in the scheme, if any, for which Company shall be eligible.

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Nitin Spinners will hold a meeting of the Board of Directors of the Company on 7 August 2018.

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Nitin Spinners announced that the Securities lssuance Committee (theCommittee) of the Company at its meeting held on 15 July 2018, approved issuance of 6,68,290 Equity Shares of Rs. 10/- each at a price of Rs. 120.50 per Equity Share (including premium of Rs. 110.50 per Equity Shares) aggregating to Rs. 8.05 crore, to one of the promoters of the Company i.e Redial Trading and lnvestment.

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