Ludhiana-based Vardhman Textiles, a leading textile company in India, recorded highest ever quarterly net profit of Rs 177.81 crores for the quarter ended September, 30, 2013. The net profit rose 154 per cent as compared to the corresponding quarter last year, when it stood at Rs 69.95 crores. On a sequential basis, net profit increased by 23 per cent. The half yearly profit was Rs 322.31 crores. On the expansion side, during the quarter ended September, 30, 2013, an additional 62,496 spindles, 960 rotors and 120 looms became operational at various manufacturing units of the Group.
Net sales of the company were Rs 1,279.5 crores as compared to Rs 1,010.74 crores in the quarter ended September, 30, 2012, an increase of about 27 per cent. The EBITDA on standalone basis was Rs 346.55 crores for the quarter, a growth of 70 per cent over the same period last year (Rs 203.74 crores). The EBITDA margin was also up at 27 per cent during the quarter as against 20.16 per cent in the corresponding period last year.
The spurt in margins has been because of favourable conditions i.e availability of raw materials at reasonable costs and the pull in the demand of yarn, owing to export of yarn to China from India.
