Nandan Denim Q2 PAT up 4.18%

Ahmedabad-based Nandan Denim Limited has registered a 44.67 per cent growth in its net profit for the quarter ended September 30, 2014. As against a Q2 net profit of Rs 8.26 crore for previous fiscal 2013-14, the integrated textile player, engaged in business of spinning and denim weaving, earned a net profit of Rs 11.95 crore for the second quarter of current fiscal 2014-15.

Part of the textile conglomerate Chiripal Group, Nandan Denim Ltd also posted a 20.92 per cent growth in its total income for Q2 FY '15 at Rs 276.94 crore as against Rs 229.01 crore of the corresponding period last year.

According to Deepak Chiripal, CEO, Nandan Denim, the growth in the company's revenue is on account of higher penetration in the export market, revenue generation from shirting segment and better scale of operations on account of expanded denim capacity with comfortable sale realisations.

"The company continues to focus upon strengthening the market share in domestic and global markets," said Chiripal. For Nandan Denim, export constitutes 12-15% of its revenue and going forward the company forays to increase its footprint in the export market.