Home / Knowledge / News / Textiles / Q1FY16 net soars 68% from sales surge at Mafatlal Inds
Q1FY16 net soars 68% from sales surge at Mafatlal Inds
17
Aug '15
Driven by a massive surge in net sales, net profit soared 68 per cent year over year at textile major Mafatlal Industries for the three months to June 30, 2015.

In a BSE filing, Mafatlal Industries said its net profit drove up 68 per cent to Rs 6.50 crore in the first quarter of fiscal 2016 as against Rs 3.87 crore in the prior fiscal first quarter.

Consequently, earnings per share also climbed to Rs 4.68 in the three months to June 30, 2015 from Rs 2.78 in the first quarter of fiscal 2015.

Standalone sales for the reporting period also surged to Rs 365.01 crore, up a steep 61.31 per cent from Rs 226.21 crore in the previous fiscal's first quarter.

Higher sales also resulted in expenses for the quarter under review propelling to Rs 364.56 crore, an increase of 55 per cent to Rs 235.50 from a fiscal ago period.

Expenses were mainly drive by a 150 per cent hike in purchases of stock-in-trade which saw it growing to Rs 188.27 crore compared to Rs 75.14 crore.

In the first quarter of current fiscal, cost of materials consumed rose 11.31 per cent to Rs 70.94 crore and other expenditure went up 18.80 per cent to Rs 73.73 crore, both growing from a fiscal ago quarter.

The Hrishikesh Mafatlal led company was able to post a turnaround in its profit from operations before other income and finance costs at Rs 7.49 crore as against a loss of Rs 1.98 crore in the first quarter of past fiscal.

However, other income, which constitutes profit on sales of non-current investments dived down steeply in the reporting period to Rs 3.76 crore compared to Rs 9.49 crore in the first quarter of earlier fiscal.

Despite which, profit from ordinary activities before finance costs and exceptional items in the first fiscal of 2016 expanded 50 per cent from the first quarter of earlier fiscal to Rs 11.25 crore.

Finance costs at Mafatlal Industries reduced to Rs 3.64 crore in the period under review as against Rs 3.94 crore, down 7.61 per cent.

Profit from ordinary activities after finance costs more than doubled to Rs 7.60 crore, up a massive 113 per cent from Rs 3.57 crore.

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao
Nayaab

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search