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Kewal Kiran posts better than expected results
Jun '11
Kewal Kiran Clothing Ltd., a large branded apparel manufacturer, has surprised everybody with its fourth-quarter results turning out to be beyond expectations. This includes results on all fronts, including revenues, margins as well as earnings.

The profit-after-tax of the company for the quarter ended March 31, 2011 stood at Rs. 111 million, much higher than its expected Rs. 75 million.

The operating margin increased by 29.2 percent for the quarter. On a year-on-year basis too, the operating margin increased by 1.4 percent.

The company's income from operations stood at Rs. 550 million, a little more than the expected Rs. 510 million.

The realization from the apparel segment jumped by 12 percent, while volume-wise the growth remained subdued at 2.2 percent. Addiction, the company's accessories brand, generated revenue of Rs. 25 million during the fourth quarter, selling around 195,000 units at an average price of Rs. 128 per unit.

In spite of rising raw material prices, which put pressure on the total margin levels, the company's profit margin has been positive, owing to leveraging benefits of selling and other administrative expenses.

Fibre2fashion News Desk - India

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