SKNL's Q1 net sales grows

Textile and apparel major S Kumars Nationwide Limited (SKNL) has recorded net sales of Rs

11,911 million, an increase of 67.5 per cent. The company’s earnings before interest, depreciation, taxes and amortization increased by 39.3 per cent to Rs 2,255.1 million. Net profit (before minority interest) was up 25 per cent to Rs 771.9 million. Net profit after minority interest was at Rs. 627.1 million. One of the highlights of the performance in the quarter is the contribution of international businesses to the total revenue. At Rs 3,290.4 million, international business contributed about 28 per cent of the total sales for the quarter.

In the domestic market, Belmonte and Reid & Taylor were key drivers for overall revenue and earnings growth. Reid & Taylor has strengthened the distribution network in Tier-I, II cities, and opened more exclusive brand outlets and multi brand outlets. World Player, which caters to the economy segment, has been introduced in South India. The joint venture with DKNY is expected to contribute to revenues in the coming quarters. The state-of-the-art HVFC facility that produces 12.75 million meters of Baruche superfine cotton per annum has started delivering results as the operations stabilized during the quarter.

A clear focus on catering to all economic strata of society, delivered in accordance with current market trends and making strategic acquisitions globally has reinforced SKNL’s market position as a global player in the branded apparel segment and in turn contributed substantially to the top line and bottom line.