Nandan Denim Q1 net profit up 35%

AHMEDABAD: Nandan Denim Limited (NDL) has reported a net profit of Rs 15.50 crore for the quarter to June, an increase of 35% from Rs 11.47 crore in the year-ago period.

Net sales grew 6% to Rs 280.50 crore.

NDL reported healthy EBITDA and PAT margin at 16.5% and 5.5% respectively.

“We are investing towards creation of machining and manpower competence to build a brand that would be synonymous with consistent quality and timeliness of delivery,” said NDL chief executive Deepak Chiripal.

Exports contributed 14% to the revenues during the quarter, the company said.

NDL exports to 28 countries.

The total expenditure on the proposed capacity expansion of Rs 612 crore is progressing as per plan, the company said. The major capex orders have already been finalised and civil activities are on, albeit slow due to monsoon, it said. The company expects to commission complete facilities in the first quarter of 2017.