Mandhana Industries Ltd., a leading manufacturer of textiles and garments, has reported a sharp 53.80 percent jump in net profit for fiscal 2010-11. The company's revenue rose by 33.96 percent during the same period.
For the quarter ended March 2011, the company reported a profit of Rs. 174.7 million compared to Rs. 148.4 million during the same period a year earlier, showing an increase of 17.73 percent.
During the quarter, the net sales of the company rose by 57.88 percent to Rs. 2.94 billion compared to Rs. 1.86 billion for the corresponding period of the previous fiscal.
The company has recently expanded its weaving facilities and its 'Being Human' retail stores are expected to roll out by December 2011.
The company's new garment factories at Tarapur and Baramati are also expected to become operational in the next financial year.
Thus, Mandhana Industries is “well poised to take a further leap”, according to Mr. Manish Mandhana, the Managing Director of the company.
Mr. Mitesh Shah, Vice President, Finance & Corporate Affairs explains, “We have been partially successful in balancing the margins due to higher sales realizations because of our cutting edge in designing and a wide range of products, both in fabrics and garments.”
“We have also put in place a better mechanism to systematically hedge our foreign currency exposures. From now, our endeavor shall be to improve the operating margins through efficient and economical procurement practices”, he said.
Fibre2fashion News Desk - India
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