S Kumars Nationwide FY'10 net surges 42 pc to Rs 277 cr

NEW DELHI: Textile major S Kumars Nationwide Ltd (SKNL) has posted a 42.1 per cent jump in consolidated net profit to Rs 277.30 crore for the year ended March 31, 2010.

It had reported a net profit of Rs 195.10 crore for the previous fiscal.

Net income from operations increased by 69.6 per cent to Rs 3,860.9 crore for FY'10 from Rs 2,276.2 crore in the previous year, SKNL said in a statement.

"Our performance during the year showcases our dedication towards achieving excellence in all spheres of operations. A customer-centric approach has reaped us huge benefits over the years and we expect the same to continue in the years to come," SKNL Managing Director and Vice Chairman Nitin S Kasliwal said.

While our domestic business continues to grow well, our international business too shows huge potential with our various acquisitions, he added.

Sales for the luxury textile segment, which comes under Reid and Taylor fabrics, grew by about 41.5 per cent, while ready-to-wear garments contributed strongly with a 58.8 per cent increase in sales over the last year.

Internationally, with the recent acquisition of Hartmarx (now HMX Corp), the largest men's tailored clothing Company in America, SKNL has access to an array of international brands like Hickey Freeman, Bobby Jones, Hart Schaffner Marx, Exclusively Misook, Austin Reed and Monarchy.