Mandhana’s Q3 profits rise 13.74%

India’s leading manufacturer of multidivisional textile and garments, Mandhana Industries

has reported its quarterly revenue numbers with a 13.74 per cent rise in revenue. It has also registered a massive 88.60 per cent jump in net profit for the quarter ended December 31. While the company saw its net profit touching Rs 199 million, which is a Rs 92.8 million over the corresponding period last year, its net sales increased by nearly 13.74 per cent to Rs 2.15 billion in the reporting quarter.

Commenting on the performance Manish Mandhana, MD, Mandhana Industries says with the new weaving and garmenting capacities becoming operational in the ensuing period and also with their retail plans kicking off in the next fiscal year, they are confident of scaling further growth in sales and profitability.

Mitesh Shah, Vice President, Finance & Corporate Affairs, feels the rise in yarn prices globally consecutively for previous four quarters posed a severe threat to the sustainability of their existing operating margins. However, with their cutting edge in designing coupled with wide product offerings both in fabrics and garments, have been able to achieve higher sales realizations thereby neutralizing to a greater extent the impact of increase in costs. Moreover, they have also evolved a better mechanism to systematically hedge our foreign currency exposures and have been successful in managing the volatility in forex rates to their advantage.