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Mandhana Industries Q3 sales hops by 6.03 %

04
Feb '12
India's leading manufacturer of textiles and apparels, Mandhana Industries Ltd, reported its quarterly profit & revenue numbers for the quarter ended on 31st December, 2011 with a 6.03 % rise in revenue. Though the operating profits increased by 25.02 %, but the net profits fell by 15.93 % largely on account of negative other income owing to provision of MTM on Forex liabilities.

While the company posted a net profit of Rs. 16.73 crores for 3rd Quarter, its net sales increased to Rs. 228.05 crores in the reporting quarter. The net profit and sales for the nine months period ended on 31st Dec, 2011 stood at Rs. 652.58 crores and Rs. 49.81 crores respectively to register increase by 20 % and 1.06 % respectively.

Mr. Manish Mandhana, Joint Managing Director, Mandhana Industries Limited expressed satisfaction on the financial performance, “We are pleased with the growth in operating margins over the previous year even amidst a difficult business environment and spiraling costs. We continue to focus on de-risking our business model by ensuring optimum utilization of our capacities, optimum realisations for our products through better product offering and optimum manpower productivity. Our strategies have paid off very well so far and has provided us with substantial immunity against external challenges such as global slowdown & increasing price competition. ”

Mr. Mitesh Shah - Vice President, Finance & Corporate Affairs, Mandhana Industries Limited commented on the challenges “The relentless depreciation of Rupee against the other major currencies continues to impact the net margins on account of provision of exchange fluctuation losses. Interest rates also are touching the roof and thereby further posing threats to profitability. Both these have wiped off the impact of strong growth in operating margins for this quarter. However with the recent sharp appreciation of Rupee coupled with strong indications of softening liquidity and interest rate scenarios, the next few quarters are estimated to offer better net margins also apart from maintaining growth at operating levels.”

Mandhana Industries Limited


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