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Vardhman Textile posts over 100% growth in Q3 FY'14 profit
06
Feb '14
Driven by improved business and consumer sentiment globally, India’s leading textile conglomerate Vardhman Textiles has continued its remarkable financial performance in the third quarter ended December, 2013.

Ludhiana-based textile major has reported a whopping 109.56 per cent growth in its net profit for the December quarter at Rs 175.24 crore, helped by strong volumes and spurt in the margins.

“The company had posted a net profit of Rs 83.62 crore in the corresponding period last year,” Vardhman Textiles said in a filing to Bombay Stock Exchange.

The EBITDA of company stood at Rs 274.37 crore for the quarter showing a growth of 70.85 per cent over quarter ended December, 2012 (Rs 160.59 crore), signaling a spurt in the operational margins.

In October-December quarter, net sales of company increased by 30.72 per cent to Rs 1,415.98 crore as against Rs 1,083.18 crore in the same period a year ago, boosted by rise in export volume amid recovery in export markets like US and Europe.

In Q3 FY’14, the company witnessed 30.97 per cent rise in its total revenue which stood at Rs 1,431.19 crore from Rs 1,092.74 crore in the same period a year ago.

However, raw material, which constitutes a significant percentage of the company’s total expenses, increased to Rs 649.17 crore during Q3, FY’14 from Rs 531 crore in Q3, FY’13.

Looking forward to cater to its ever increasing customer base, company is expanding its existing spinning capacities with installation of additional spindles at Budhni and Satlapur. Apart from these expansions, the company continues to modernize its capacities and go in for line balancing as and when required.

The company is also focusing on process improvements, diversification of products, rationalization of costs, improving efficiencies and building a strong customer base.

Fibre2fashion News Desk - India

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