Mandhana Industries Q2 PAT declines by 27.5% at Rs 16.91 crore

MUMBAI: Textiles and apparels manufacturer Mandhana Industries posted 27.5 per cent decline in profit after tax (PAT), at Rs 16.91 crore for the quarter ended September 30, compared to last year.

The company's PAT stood at Rs 23.34 crore in the second quarter of FY13, Mandhana Industries said in a release.

Net sales for the quarter under review registered growth of 25.83 per cent at Rs 402.13 crore as against Rs 319.58 crore in the same period last year.

"Despite the competitive and obstructive macro- environment, we witnessed an improvement in both textiles and garments. The consistent fall in the rupee against the dollar aided the industry, but volatility in forex rates did not allow the segments to reap the full benefit of the currency's fall," Mandhana Industries Joint Managing Director Manish Mandhana said.

Mandhana Industries is a multi-divisional textile company engaged in manufacturing textiles and garments. Its business includes designing, yarn designing, yarn dyeing, weaving, processing, dyeing and garment manufacturing.

It has a strong global presence, supplying to various markets in Italy, France, Germany, Turkey, Switzerland, the Netherlands, UK, Spain, Australia and Israel.