Vardhman Textiles has reported a 37.27 per cent increase in consolidated net profit for the first quarter ended June 30, 2015, helped by lower expenses. Net sales in the quarter under review were down 2.26 per cent compared with the same quarter last year. Total income decreased 3.5 per cent.
Overall expenses were down 6.95 percent compared to the corresponding quarter a year ago while production improved 8 to 10 per cent. The rise in cotton prices last year impacted the June quarter top line growth. Other expenses like depreciation remained high. The company expects sales to remain flat and an EBITDA of 18 to 22 per cent in financial year ’16.
Vardhman is a major integrated textile producer in India. The group was set up in 1965 at Ludhiana. Since then, it has expanded manifold and is today one of the largest textile conglomerates in India. The portfolio includes manufacturing and marketing of yarns, fabrics, sewing threads, fiber and alloy steel. The group has also diversified into yarn processing, weaving, sewing thread, fabric processing, acrylic fiber manufacturing and into special alloy steels. Over the years, the group has expanded its spinning capacities besides adding new businesses.
www.vardhman.com/
