Vardhman Textiles net profit rises 10 percent to Rs 179 crore
today May 15, 2019
Textile and apparel major Vardhman witnessed a 10 percent rise in its net profit to Rs 179 crore ($25.5 million) for the fourth quarter ended March 31, 2019, as against Rs 164 crore it had reported in the year-ago period.
The company’s revenue rose 17 percent to Rs 1763 crore in the quarter ended March 2019 as against Rs 1510 crore during the previous quarter ended March 2018
For the full financial year 2018-19, Vardhman’s net profit rose 26 percent to Rs 731 crore in the year ended March 2019 as against Rs 581 crore it had posted during the previous year ended March 2018.
The sales for the fiscal were up 10 percent to Rs 6878 crore as compared to Rs 6248 crore it reported during the previous year.
During the year, Vardhman also got into a strategic partnership with Future Group to develop affordable fashion apparel products.
Vardhman is into manufacturing of high-end premium quality shirts for large retail brands Van Heusen, Benetton, Sisley, Colorplus among many others.
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