INDIA: Vardhman Textiles books 130% hike in Q2 profit
Surging cotton prices and international demand have helped India's largest yarn maker, Vardhman Textiles, to a 130% hike in second-quarter profit.
The company booked a net profit of INR1.16bn (US$26.2m) in the three months to 30 September, while sales rose 37% to INR9.2bn.
Revenues in its yarn division rose 36% to INR7.14bn (65% of total revenue), while sales in its fabric unit were up 24% to INR2.58bn (23% of total revenues).
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