Rs 16.33-cr net profit for Nandan Denim

Nandan Denim Limited (NDL), has reported a net profit of Rs16.33 crore for the second quarter ended September 2017 as against net profit Rs 16.41 crore in the corresponding period of previous year. Net sales for the Q2 FY 18 were at Rs 414.98 crore higher by 37 per cent over corresponding net sales of Rs 302.63 crore. Company reported healthy EBITDA and PAT margin in Q2 FY18 at 15.34 per cent and 3.93 per cent respectively. EPS for Q2 FY 18 stood at Rs. 3.35 (Face value of Rs. 10 per share).

For the six months ended September 2017, company reported a net profit of Rs 32.64 crore against a net profit of Rs 32.40 crore in the corresponding period last year. Net sales in first half of FY 2017-18 at Rs 838.68 crore were higher by 39 per cent compared to Rs 603.12 crore in the first half of previous fiscal. For H1 FY 2017-18, EBITDA margin stood at 14.84 per cent and PAT margin at 3.89 per cent.

Commenting on company’s financial performance, Deepak Chiripal, CEO, Nandan Denim Limited said, “Despite headwinds, performance for the quarter has been satisfactory striking good balance between revenue growth and delivering greater efficiency. The benefits of optimizing business post expansion are beginning to emerge.”

Company has informed stock exchanges that Vedprakash Chiripal, Chairman, Nandan Denim Ltd has bought 9.10 lakh shares of Nandan Denim Ltd from open market during the quarter.