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Nandan Denim net sales up 37% to Rs 415cr in Q2 FY18

12 Dec '17
2 min read
Courtesy: Nandan Denim Ltd
Courtesy: Nandan Denim Ltd

Nandan Denim Limited (NDL) has reported a net profit of Rs 16.33 crore for the second quarter ended September 2017 as against net profit Rs 16.41 crore in the corresponding period of previous year. Net sales for Q2 FY 18 were at Rs 414.98 crore, up 37 per cent over net sales of Rs 302.63 crore in the same quarter last year. EPS for Q2 FY 18 stood at Rs 3.35.

The Ahmedabad based company reported healthy EBITDA and PAT margin in Q2 FY18 at 15.34 per cent and 3.93 per cent respectively.

For the six months ended September 2017, the Chiripal Group company reported a net profit of Rs 32.64 crore against a net profit of Rs 32.40 crore in the corresponding period last year. Net sales in first half of FY 2017-18 at Rs 838.68 crore were higher by 39 per cent compared to Rs 603.12 crore in the first half of previous fiscal. For H1 FY 2017-18, EBITDA margin stood at 14.84 per cent and PAT margin at 3.89 per cent.

“Despite headwinds, performance for the quarter has been satisfactory striking good balance between revenue growth and delivering greater efficiency. The benefits of optimising business post expansion are beginning to emerge,” commented NDL CEO Deepak Chiripal.

Meanwhile, the company has informed stock exchanges that Vedprakash Chiripal, chairman, NDL has bought 9.10 lakh shares of Nandan Denim Ltd. from open market during the quarter. (RKS)

Fibre2Fashion News Desk – India

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