Vardhman Textiles Q4 profit plummets
- Q4 profit falls 41.4% to INR902m
- Sales up 9.8% to INR14.08bn
- FY profit slumps 44.9%
Indian yarn manufacturer Vardhman Textiles has seen its fourth-quarter net profit plummet, despite booking a near double-digit increase in sales.
Net profit amounted to INR902m (US$14.1m) for the three months to 31 March, compared to INR1.54bn in the same period of the prior year. However, net sales increased 9.8% to INR14.08bn from INR12.82bn a year ago.
During the full year, the company's net profit slumped 44.9% to INR3.59bn from INR6.52bn last year. Net sales grew 11% to INR57.42bn from INR51.71bn in the prior year.
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