Home / Knowledge / News / Textiles / Vardhman Textiles Q4FY15 net knocked down 41.55%
Vardhman Textiles Q4FY15 net knocked down 41.55%
12
May '15
A 23 per cent year over hike in total expenses knocked down net profit by 41.55 per cent from a year earlier quarter at textiles major Vardhman Textiles Ltd.

In a BSE filing, the SP Oswal led Vardhman Textiles said its net profit slid massively by 41.55 per cent year over year to Rs 90.20 crore in the fourth fiscal quarter ended March 31, 2015.

Led by depreciation and amortisation expenses which surged 54.77 per cent to Rs 132.30 crore, total expenses too rose steeply to Rs 1,281.76 crore, a jump of 23 per cent from the prior fiscal fourth quarter.

Total expenses also rose on account of other expenses which soared 22.42 per cent to Rs 179.66 crore, while cost of material consumed fell 8 per cent to Rs 654.99 crore in the reporting quarter.

Driven by a 310 per cent hike in other operating income at Rs 40.95 crore, Vardhman recorded total income from operations at Rs 1,448.74 crore, up 12.11 per cent year over year in the fourth quarter of fiscal 2015.

Profit before other income, finance costs and exceptional income too dipped to Rs 166.98 crore in the quarter under review from Rs 250.10 crore, down a massive 33.22 per cent.

Profits were also down at Vardhman Textiles in the fourth quarter of fiscal 2015 despite finance costs tumbling down 35.34 per cent to Rs 28.63 crore from Rs 44.28 crore from a year ago quarter.

Consequently pretax profits also took a hit and slipped down 32.77 per cent at Rs 138.36 crore from Rs 205.82 crore in the quarter ended March 31, 2014.

Tax expense too was down to Rs 48.16 crore in the quarter ending March 31, 2015 from Rs 51.50 crore in the prior fiscal fourth quarter, also down 6.48 per cent

Vardhman Textiles board of directors at a meeting held on May 08, 2015, inter alia, has recommended a dividend of Rs 10 per share on fully paid up equity shares.

According to the BSE filing, this dividend shall be paid tentatively by the end of September, 2015. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search