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Net profit declines 27% at Vardhman Textiles in Q2FY15
18
Aug '14
Although revenue rose 18.8 percent, India-based vertically integrated textile conglomerate Vardhman Textiles posted a 27 percent decline in net profit in the second fiscal quarter ending June 30, 2014.

Raw material cost which mainly impacted profit, rose massively by 36 percent to Rs 751 crore in the second quarter of 2014-15 from Rs 552 crore in the corresponding quarter of last fiscal year.

Net profit slipped to Rs 106.2 crore or 27 percent from Rs 144.5 crore in the same quarter of the prior year.

Net revenue went up 18.8 percent to Rs 1,417.6 crore in April to June 2014-15 quarter from Rs 1193.6 crore in the same quarter of 2013-14.

EBITDA or operating margin dipped over 400 basis points to 19.6 percent in the recently concluded quarter from 23.8 percent, a year earlier.

Vardhman Group, a leading textile conglomerate in India reported a turnover of Rs 5,171 crore in the fiscal year ending March 31, 2014. It has 22 manufacturing facilities, spanning across five states of India.

Fibre2fashion News Desk - India

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