Mandhana Industries Q2 net profit rises

Mandhana Industries net profit and sales for the

half year ended on September, 30, 2011 on domestic and export front stood at Rs 330.8 million and Rs 4.24 billion respectively with an increase of 12.56 per cent and 29.15 per cent. Mandhana Industries is India’s leading manufacturer of textiles and apparels. Its registered a 18.71 per cent increase in revenue and 5.71 per cent increase in net profit for the quarter ended September, 30, 2011.

The company has now decided to boost growth with its designing skills, wide product basket and strong retail foothold in India and overseas markets. It expects garment capacity expansion at Tarapur and Baramati in Maharashtra will further strengthen manufacturing in the last quarter of this financial year. Retail operations of ‘Being Human’ apparel brand are also expected to assist in boosting growth during the period.

Despite weak global economic growth, the company feels that the recent sharp depreciation of rupee against major global currencies will act as an impetus to its growing exports and would increase operating margins, which they plan to convert into higher net margins by rationalizing the rising interest costs.