Notwithstanding the rising input costs, and other market conditions, Vardhman Group has reported a 48% increase in net profit in 2016-17. The company earned a PAT of Rs 1001.60 crore in FY17, compared to Rs 676.40 crore in FY16. Segmentwise, Vardhman earned a revenue of Rs 5865.20 crore in FY17 from its textile business, 3.32% higher than in FY16.
Revenue from the acrylic fibre business was Rs 367.84 crore, 18% lower than in FY16. Profits (before interest and tax) from textile business in FY17 grew 15.66% to Rs 939.95 crore, compared to FY16. Profits from the acrylic business in FY17 were down 6.91% to Rs 57.50 crore.
In Q4FY17, revenue from the textile business at Rs 1549.68 crore, was 7.88% higher than in the previous quarter. Revenue from the acrylic business grew over 21% to Rs 87.24 crore in the quarter. However, profits in the fourth quarter of FY2017 were lower than in the previous quarter. Profits (before interest and tax) from textile business at Rs 199 crore were 17.57% lower than in the previous quarter. And profit from acrylic business at Rs 5.86 crore was 35.25% lower than in the previous quarter.