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Vardhman Textiles reported double rise in profit to Rs 175 cr for Dec quarter

YarnsandFibers News Bureau 2014-02-10 16:35:00 – LUDHIANA

Vardhman Textiles, leading textile firm due to cheaper input cost and increase in yarn exports to China for the quarter ending December 31 saw a rise in its net profit. The net profit saw a 109 per cent jump to Rs 175.24 crore.

The company had reported a net profit of Rs 83.62 crore in corresponding quarter of last fiscal.

The company’s net sales for the third quarter of the ongoing fiscal stood at Rs 1,415.98 crore, up 30.72 per cent over revenue clocked in corresponding period.

Due to favourable conditions both in respect of availability of raw material at reasonable cost and the pull in the demand of yarn owing to the big rise of export of yarn to China from India, the company witnessed rise in the margins over the corresponding quarter of last year

Vardhman also saw an expansion at their Vardhman Fabrics, Budhni during the quarter ended December 2013, with an additional 28,800 spindles and 110 looms becoming into operation.

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