NE BUSINESS BUREAU
AHMEDABAD, FEB 13
Denim major, Nandan Denim Ltd (NDL) on Saturday announced that it has registered a whopping 546 percent jump in its net profit to Rs 20 crore in the third quarter ended December 31, 2021 which was Rs 3.05 crore in the same p[eriod of last fiscal, a release said.
Profit after tax (PAT) margins for Q3FY22 stood at 3.38 percent as against 0.98 percent in Q3FY21, which NDL attributed to an increase in operating margins coupled with decline in depreciation.
Revenue from operations grew by 87.15 percent to Rs 583.17 crore for Q3FY22, as against Rs 311.61 crore in Q3FY21.
Commenting on the performance, Jyotiprasad Chiripal, Managing Director, said, “The results of the third quarter of FY22 establishes the robust financial performance of our company. Despite being obstructed by headwinds of COV/0-19 and higher raw material prices, the company has reported healthy revenue growth with the turnover of Rs.583.17 crore in Q3FY22. Further, with the increase in capacity utilization of denim and shirting division coupled with rationalisation of cost helped us to sustain our operating margins. Going forward, our objective is to ensure the sustainability of the growth in turnover and profitability of our company.”
The earnings before interest, depreciation, tax and amortization (EBIDTA) for Q3FY22 stood at Rs 51.75 crore as compared to Rs 32.78 crore for Q3FY21, with a growth of 57.87 percent on YoY basis. EBIDTA margins for Q3FY22 stood at 8.87 percent as compared to 10.52 percent in Q3FY21.
