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Net sales climb 18% at Kewal Kiran Clothing in Q4FY15
23
May '15
Kewal Kiran Clothing, a marketer of Killer, Lawman and Easies denim and apparel brands, reported an 18 per cent year on year surge in net sales for the fourth fiscal quarter ended March 31, 2015.

In a BSE filing, the Kewalchand Jain led clothing marketer said its net sales climbed 18 per cent to Rs 103.95 crore in the fourth quarter of fiscal 2014-15 as against Rs 88.06 crore in the fourth quarter from its last fiscal.

But despite recording a 25.84 per cent growth in operating profit, Kewal Kiran’s net profit rose at a partly 3.43 per cent year over year from lower other income.

Net profit in the reporting quarter grew to Rs 21.40 crore compared to Rs 20.69 crore in the fourth quarter of fiscal 2013-14, down 3.43 per cent.

Other income at the Mumbai based company plunged 46.94 per cent to Rs 3.73 crore in the quarter under review from Rs 7.03 crore.

Operating profit however soared 25.84 per cent to Rs 27.22 crore compared to Rs 21.63 crore in the fourth quarter of fiscal 2013-14.

Operating profit rose from steep declines in finance cost and depreciation and amortisation costs.

Depreciation and amortisation in the fourth quarter of fiscal 2014-15 fell to Rs 91 lakh from Rs 1.29 crore in the fiscal ago quarter, down steep 29.45 per cent.

In the same comparable period, finance cost too tumbled down 29.16 per cent to Rs 51 lakh as against Rs 72 lakh.

For the fourth quarter of fiscal 2014-15, total expenditure rose 15.84 per cent to Rs 77.51 crore compared to Rs 66.91 crore in the same period of last fiscal.

Higher expense were driven by increase in stock, which mounted 20.11 per cent to Rs 4.12 crore, raw material consumed expanded 19.88 per cent to Rs 39.43 crore, both growing from a fiscal earlier quarter.

Manufacturing and operating expense in the quarter under review lifted to Rs 7.32 crore, up 24.70 per cent, while selling and distribution expense fell 21.32 per cent to Rs 5.57 crore.

The denim jeans retailer posted pre-tax profit Rs 30.44 crore in the fourth quarter of fiscal 2014-15 as against Rs 27.94 crore, up 8.94 per cent.

Earnings per share in the quarter ended March 31, 2015 climbed to Rs 17.37 from Rs 16.80 from the same quarter of fiscal 2013-14. (AR)

Fibre2fashion News Desk - India

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