Net profit for the second fiscal quarter ended September 30, 2015 surged 30.5 per cent year on year at India’s second largest integrated denim fabric manufacturer Nandan Denim Limited (NDL).
The company reported a net profit of Rs 15.61 crore for the second quarter of fiscal 2016, up a steep 30.5 per cent from Rs 11.95 crore in the corresponding period of fiscal 2015.
Net sales for the three months to September 30, 2015 at Rs 294.53 crore were higher by 6.4 per cent over previous fiscal’s same quarter where it stood at Rs 276.94 crore.
“The Company reported a healthy EBITDA and profit after tax margin at 17.2 per cent and 5.3 per cent, respectively, for the reporting quarter,” Nandan Denim said.
For the six months to September 30, 2015, it reported a net profit of Rs 31.11 crore, up 32.8 per cent as against Rs 23.43 crore in the previous fiscal’s second quarter.
Net sales in first half of fiscal 2016 amounted to Rs 575.04 crore, which was higher by 6.4 per cent vis-a-vis Rs 540.63 crore in the comparable period of fiscal 2015.
CEO Deepak Chiripal said, “The company is following its well defined charter of growth and we are pleased with the performance so far.” It has made significant progress on the proposed capacity expansion of Rs 612 crore that is expected to be on stream in the first quarter of fiscal 2017.
