One of India’s leading textile companies, Vardhman Textiles Limited, has witnessed a drop in its profit during the first quarter of the current financial year (Q1 FY ’24) as in this period, the consolidated net profit of company saw a fall of 58.53 per cent to Rs 136.47 crore, compared to Rs 329.12 crore for same quarter of last fiscal.
In a BSE filing, the company said that sequentially, the net profit was down 14.02 per cent. In Q4 FY ’23, the net profit of the company was Rs 158.74 crore.
EBITDA stands at Rs. 309.88 crore in Q1, FY ’24 compared to Rs. 533.17 crore in Q1, FY ’23 (down by 41.88 per cent).
The revenue from operations in the first quarter of the current fiscal witnessed a fall of 17.55 per cent as it was Rs 2,318.30 crore, compared to Rs 2,811.83 crore in Q1, FY ’23. On a quarter-on-quarter basis, the revenue for operations was down 6.73 per cent. It was Rs 2,485.61 crore in Q4 FY ’23.
Vardhman Textiles is part of the Vardhman Group, the group’s business portfolio includes yarn, fabric, sewing threads, fibre, special alloys, and apparel sectors.
