Apparel and textile major S Kumars Nationwide (SKNL) today posted a 40.23% increase in its consolidated net profit to Rs 87.94 crore for the first quarter ended June 30.
For the three months ended June 30, 2010, SKNL's consolidated net profit was Rs 62.71 crore, it said in a filing to the Bombay Stock Exchange.
The company's net sales during the first quarter of the current fiscal increased 22.68% to Rs 1,461.31 crore, as against Rs 1,191.15 crore in the same quarter of last fiscal.
Commenting on the results, SKNL MD and Vice Chairman Nitin S Kasliwal said: "The year has started off on a good note with strong sales performance across domestic businesses and improved margins for the quarter. Our 'Ready to Wear' segment clocked significant growth, while Belmonte and Reid & Taylor remained key performers."
Luxury Cotton continues to improve its contribution and the HVFC plant is expected to reach optimum utilisation levels in FY2012, he added.
SKNL's scrips closed at Rs 51, down 0.78% from the previous close on the BSE.
