Nandan Denim Limited (NDL), reported net profit of Rs 15.97 crore for the first quarter ended June 2016 as against Rs 15.50 crore in corresponding quarter a year ago, which is a rise of 3 per cent.
Company's net sales for the period stood at Rs 300.39 crore higher by 7 per cent over corresponding net sales of Rs 280.51 crore last year.
Deepak Chiripal, CEO, Nandan Denim Limited said, “The part of the project that we have commissioned partially has started yielding positive results even while the prices of inputs had been quite volatile. We are already in the process of accomplishing the remaining part of our project and once the same is streamlined, we expect that the Company, with much larger production capacities and product baskets would be optimally placed in competitive market to cater to the larger demand arising from India and overseas markets while securing best of the profitability potential.”
Nandan shares ended negative at Rs 131, down close to 2 per cent on the National Stock Exchange (NSE) on Wednesday.