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Nandan Denim reports PAT of Rs.15.97 crore

Nandan Denim reports PAT of Rs.15.97 crore

India Blooms News Service | | 10 Aug 2016, 07:41 pm
Mumbai, Aug 10 (IBNS): Denim fabric manufacturer Nandan Denim Limited (NDL) has reported a net profit of Rs.15.97 crore for the Q1 FY17 as against Rs.15.50 crore in Q1 FY16, a rise of 3%.

Profits before tax rose from Rs 19.84 Crore to Rs 23.46 Crore, registering growth of 18%.

Net sales for the period were at Rs.300.39 crore higher by 7% over corresponding net sales of Rs. 280.51 crore.

The company reported healthy EBITDA and PAT margin in Q1 FY17 at 16.2% and 5.3% respectively.

Deepak Chiripal, CEO, Nandan Denim Limited said, “The part of the project that we have commissioned partially has started yielding positive results even while the prices of inputs had been quite volatile."

"We are already in the process of accomplishing the remaining part of our project and once the same is streamlined, we expect that the Company, with much larger production capacities and product baskets would be optimally placed in competitive market to cater to the larger demand arising from India and overseas markets while securing best of the profitability potential,” said he.