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Vardhman Textiles, one of the leading textile companies in India, registered a 26.5% decline in Q1 net profit to Rs 106.3 crore. The company had posted a profit of Rs 144.5 crore in the corresponding period last year.
The EBIT margin was down to 20.86% as against 24.91% in the year-ago quarter. The decline in margins was due to higher prices of raw materials and lower export of cotton yarn from India.
However, net sales increased from Rs 1,193.61 crore to Rs 1,417.60 crore for the quarter ended 30 June, 2014, an increase of about 18.76% due to capacity expansions in spinning.
