Vardhman Textiles Ltd. registered a 24.2 per cent growth in profit for the quarter ended 30th June 2016, which was boosted by the performance of its acrylic fiber division, even as the topline of the financials remained flat.
Vardhman Textiles share price is currently trading at Rs 1,029.95, up by 1.18 per cent. The share price opened at Rs 1,059.90.
Net profit of the Company rose to Rs 178.3 crores in the April to June quarter, from Rs 143.6 crores in the same quarter last year, according to the company’s filing on the National Stock Exchange. Profit from the textile division grew 4.7 percent to Rs 218.4 crores, while the profit from the acrylic fiber business jumped nearly threefold to Rs 23.2 crores.
The Revenue of the Company for the quarter increased about 1 per cent to Rs 1,474.2 crores from Rs 1,460 crores the year earlier. Earnings before interest, tax, depreciation and amortization (EBITDA) increased 11.9 per cent to Rs 346.5 crores from Rs 309.7 crores, according to calculations by the market experts. EBITDA margins expanded to 22.97 per cent in the quarter from 21 per cent in the corresponding quarter of the previous year.
Vardhman Textiles Ltd. is one of the multibagger stocks recommended by Dynamic Levels. The 52 week high made by the share is Rs 1120.00 made on 27th July 2016 and the 52 week low is Rs 680.00 made on 20th January 2016. The P/E Ratio of the Company is 11.27.
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