Vardhman Textiles Ltd witnessed a 58 percent decline in net profit to Rs 136 crore ($17 million) for the quarter ended June 30, as against Rs 329 crore posted in the corresponding quarter of the previous year.
The revenue from operations for the April-June quarter was down 18 percent to Rs 2,318 crore, as compared to Rs 2,812 crore reported in the year-ago period.
Vardhman Textiles is part of the Vardhman Group that is engaged in the textile industry. The group’s business portfolio includes yarn, fabric, sewing threads, fibre, special alloys, and garment sectors.
Vardhman manufactures high-end premium quality shirts for large retail brands Van Heusen, Benetton, Sisley, and Colorplus, among many others.
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