Nandan Denim third-quarter net profit up 61%

India’s largest denim fabric manufacturer Nandan Denim Limited has reported net profit of Rs. 13.93 crore for the third quarter of fiscal 2018 as against Rs 8.63 crore in the corresponding period of previous year, a rise of 61 per cent.

Net sales were totaled at Rs 363.40 crore, up 54 per cent over previous fiscal’s same quarter sales of Rs 235.22 crore.

For the reported period, the company reported EBITDA and PAT margin at 16 per cent and 3.83 per cent respectively. The company EPS stood at Rs. 2.86. 

For the nine months ended December 2017, the company reported net profit of Rs 46.57 crore against a net profit of Rs. 41.03 crore in the corresponding period last year, growth of 14 per cent.

Net sales in nine months of fiscal 2018 at Rs 1202.08 crore were higher by 43 per cent compared to Rs 838.35 crore in the same period in previous fiscal. For 9 months of 2018, EBITDA margin stood at 15.51 per cent and PAT margin at 3.87 per cent.

"We are pleased with the performance for the quarter as company is able to maintain a good balance between revenue growth and profitability while delivering greater efficiency.

The benefits of optimising business post expansion are beginning to emerge. We expect to get the full realisation and synergies of the expansion plans in the next few years and we expect to see better profit margins going forward," Deepak Chiripal, CEO, Nandan Denim Limited said.