Vardhman Textiles, an integrated textile manufacturer, reported that its consolidated net profit rose 49.8% year-on-year (YoY) to Rs. 310 crore (US $32.43 million) in the quarter ended 30th June, compared to Rs. 207 crore (US $21.66 million) in the corresponding quarter last year.
Business News
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India's cotton imports are expected to reach a record 60 lakh bales in the 2025-26 season ending September, driven by strong demand from textile mills taking advantage of the Government's temporary 11% import duty exemption, according to the Cotton Association of India (CAI).
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Textile industry associations have urged the Tamil Nadu government to reduce electricity costs and introduce measures to encourage investments as it prepares to start a new industrial policy.
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The Production Linked Incentive (PLI) Scheme for Textiles has attracted investments of Rs 167.51 crore (17.49 million) in Maharashtra from 24 approved companies as of 31st March, as part of its efforts to boost manufacturing of MMF apparel, MMF fabrics and technical textiles, according to Ministry of Textiles.
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Value fashion retailer V-Mart Retail reported improved profitability in the first quarter of FY27, driven by healthy same-store sales growth, better inventory management and operational efficiencies.
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Ekart, the supply chain arm of the Flipkart Group, has opened its pan-India logistics network to external businesses, including micro, small and medium enterprises (MSMEs), direct-to-consumer (D2C) brands and fast-moving consumer goods (FMCG) companies.
