Vardhman Textiles’ First Quarter Profit Jumps 24%, Margins Expand
Vardhman Textile’s profit jumps 24%, but revenue remains flat
Vardhman Textiles Ltd. reported a 24.2 percent increase in the June quarter profit, boosted by the performance of the acrylic fiber division, even as the topline remained flat.
Net profit rose to Rs 178.3 crore in the April to June quarter, from Rs 143.6 crore in the same quarter last year, according to the company’s filing on the National Stock Exchange. Profit from the textile division grew 4.7 percent to Rs 218.4 crore, while the profit from the acrylic fiber business jumped nearly three fold to Rs 23.2 crore.
Revenue increased 1 percent to Rs 1,474.2 crore from Rs 1,460 crore the year earlier. Earnings before interest, tax, depreciation and amortisation increased 11.9 percent to Rs 346.5 crore from Rs 309.7 crore, according to calculations by BloombergQuint. EBITDA margins expanded to 22.97 percent in the quarter from 21 percent in the corresponding quarter last year.