Vardhman Textiles Q2 profit dips 5 percent
Vardhman Textiles recorded a net profit of 187.76 crore rupees for the July-September period, down 5 percent from 197.29 crore rupees one year earlier. The Chandigarh manufacturer saw revenue slip 1 percent to 2,480 crore rupees while operational earnings climbed 6 percent to 334 crore rupees. The company’s profit margin widened to 13.5 percent from 12.6 percent as exports made up 43 percent of annual sales.
Shares jumped 8.52 percent to 443.05 rupees on Thursday after the announcement, though the stock has declined 13 percent this year. The vertically integrated producer makes yarn, fabric, thread, and clothing at facilities across India. Management said direct sales to American buyers remain limited, but the firm supplies several United States brands through indirect channels.
