Nahar Spinning Mills has reported a net profit of Rs 26.38 crores for the first quarter ended June 30, 2015, due to lower raw material costs. The company had posted a net loss of Rs 11.47 crores in the year-ago quarter. Net sales in the quarter under review, however, dropped by 2.8 per cent compared to the corresponding quarter of the previous year. Raw material cost declined by 18.6 per cent on a year-on-year basis.

Ludhiana-based Nahar was incorporated in 1980 and is known for hosiery and knitwear garments like T-shirts. In 1992, as a measure of backward integration, the company diversified into the spinning industry. The company has five lakh spindles and 1,080 rotors. Nahar has put up a mercerising cum dyeing plant. The superfine quality yarn produced by the unit is being used by manufacturers of fine quality garments for exports. The unit caters to the domestic hosiery garment market as well as export markets. It is one of the largest integrated textile players in and the second largest cotton yarn manufacturer in India. Products go to reputed international brands. About 60 per cent of the company’s products are exported.

www.owmnahar.com/