Nandan Denim reports Q4 net profit of Rs 15 crore
Ahmedabad-based denim maker Nandan Denim Limited reported a net profit of Rs 15 crore ($2 million) for the fourth quarter ended March 2021, as against a net loss of Rs 8 crore it reported in the year-ago period.
The company’s revenue for the quarter rose by 21 percent to Rs 372 crore, as against Rs 308 crore it reported in the corresponding period of the previous fiscal year.
For the financial year 2020-21, Nandan Denim reported a net loss of Rs 19 crore as against net loss of Rs 1 crore during the previous year ended March 2020, while its revenue for the year declined 28 percent to Rs 1,090 crore as compared to previous fiscal’s Rs 1,524 crore.
As part of Ahmedabad-based industrial conglomerate Chiripal Group, NDL commenced its operations in 1994 with textile trading business and forayed into textile manufacturing in 2004. The company currently engages in manufacturing of denim fabric, shirting fabric and yarn.
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