Vardhman Textiles Ltd today reported over two-fold increase in net profit at Rs 144.5 crore for the first quarter ended June 30, 2013, driven by strong performance of yarn and fabric segments.
The company had reported a net profit of Rs 54.89 crore in the corresponding quarter of previous fiscal.
Net sales in the quarter under review was at Rs 1,193.61 crore, an increase of 27.03 per cent compared with Rs 939.58 crore in the same quarter last year, the company said in a filing with BSE.
Revenue from yarn increased by 23.68 per cent to Rs 995.07 crore and that of fabric increased by 42.63 per cent to Rs 449.01 crore in the quarter under review while overall expenses of the company stood at Rs 989.77 crore.
Shares of Vardhman Textiles closed at Rs 297.95 apiece at the end of day’s trade, up 5.25 per cent from the previous day’s close.