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Mandhana Industries net profit rises in Q1
10
Aug '11
Mandhana Industries Ltd., a multi divisional textile company, has posted a net profit of Rs. 155 million during the April-June quarter of fiscal year 2011-12, compared to Rs. 127.6 million in the corresponding quarter of last fiscal, thus registering a year-on-year growth of 21.53 percent.

The net sales of the company rose 42.56 percent to Rs. 2.05 billion during the first quarter as against Rs. 1.44 billion achieved during the same period last fiscal.

Mr. Manish Mandhana, Joint Managing Director of the company, said that the company's operating margins are likely to increase in the next quarter owing to a fall in prices of raw material, and steady growth in demand for textiles and garments from both domestic and export markets.

He further said that the expanded garment manufacturing capacity at its two Maharastra-based facilities – Tarapur and Baramati – would enable the company to meet the increasing demand from its overseas customers during the next two quarters of the current fiscal. Hence, he was optimistic of witnessing a healthy growth in both sales and profitability in the coming quarters.

However, Mr. Mitesh Shah, Vice President (Finance and Corporate Affairs), Mandhana Industries, sounded a note of caution over the rising interest rates, which could pull down the net margins, as the textiles and garments industry are capital-intensive in nature.

Fibre2fashion News Desk - India

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