Vardhman Textiles April-June Profit Down 13% On Year; Revenue Up 3.3%

Vardhman Textiles Ltd. reported a 13.1% on-year decline in consolidated net profit for the June quarter at ₹2.07 billion, even as revenue from operations rose 3.3% to ₹23.86 billion. Sequentially, profit was down 12.9%, and revenue slipped 4.9%.

Total expenditure in the April-June quarter rose to ₹21.92 billion from ₹20.75 billion a year ago. Finance costs increased to ₹225.3 million from ₹177.7 million, while tax outgo fell to ₹684.3 million from ₹722.8 million.

Other income stood at ₹703 million, up from ₹660.2 million a year earlier.

The company also said it has commenced commercial production of around 17,000 spindles under its capex plan. In May, the board approved a ₹20 billion investment to expand and modernise its spinning and fabric operations and boost green power generation.