Nahar Industrial Enterprises Limited (NIEL), India's leading integrated textiles Company announced its financial results (consolidated) for the quarter ending 30th June, 2007. In its board meeting the Company reported an increase of 28.22% in its EBIDTA.
Announcing the first quarter results of the Company Mr. Kamal Oswal, Vice Chairman & Managing Director, Nahar Industrial Enterprises Limited (NIEL) said, “We have identified retail as the prime engine for growth.”
He further added, “Encouraged by the immense growth witnessed over the last one year in our retail business in the ready to wear apparel segment, through our wholly owned subsidiary – Nahar Retail Limited, we are confident of sustaining our expansion plans in the coming fiscal too. The consolidated figures are reflective of the figures of the wholly owned subsidiary i.e. Nahar Retail Limited.”
Net sales during the quarter under review jumped to Rs. 231.42 crore from Rs. 203.76 crores reported in the first quarter in the last fiscal, thus showing an increase of 13.58%.
During this period, NIEL also recorded a year on year jump of 28.22% in the EBIDTA, up from the EBIDTA of Rs. 43.58 crores to Rs. 55.88 crores. Cash profit increased from Rs. 36.49 crores to Rs. 42.09 crores showing an increase of 15.36%.
With a view to achieve self sufficiency on the power generation front, NIEL also commissioned a massive 8MW power plant at Amloh, Punjab and a sprawling 12 MW power plan at Lalru, Punjab which spikes up the total co-generation power plant capacity to an impressive aggregate of 33MW.
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