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Leading denim fabric maker Nandan Denim Ltd on Monday reported an increase of 23 per cent in net profit and 5 per cent in sales in the financial year 2015-16, ended March 31, compared to the corresponding period last fiscal.
Sales stood at Rs 1,156.72 crore (Rs 1,096.53 crore) and net profit stood at Rs 63.32 crore (Rs 51.43 crore), according to a company statement here.
The board of directors has declared an interim dividend of 16 per cent for the year 2015-16.
The company had made a preferential placement of 25 lakh convertible warrants at a conversion price of Rs. 200 each. The entire money of Rs. 50 crore had been received and equivalent numbers of equity shares had been allotted to the investors, Deepak Chiripal, CEO, said.
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