Virudhunagar Textile Mills Ltd has posted a 19.9 per cent increase in gross profit to INR144.47 million for the fiscal year ended March 31, down from INR179m in the preceding year.

The company, part of the Madurai-based Thiagarajar group, also reported a fall in net profit for the year to INR54.8m, down from INR99.1m in the previous fiscal year.

Total sales for the year, however, rose five per cent to INR1.09 billion, up from INR1.03bn in the prior 12-month period.

According to a company statement, the impact of the strong rupee against the United States dollar affected exports for the year, which had a negative impact on profit.