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SKNL’s Q3 PAT up 18.2 per cent at Rs.95.4 crore

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SKNL, a leading multi-brand conglomerate with strong presence in retail, has reported a profit after tax (PAT) of Rs.95.46 crore for the third quarter ended December 31, 2010, up 18.2 per cent from Rs.80.79 in the corresponding quarter a year ago.

Driven mainly by volume enhancement across product offerings, the company’s net sales during the quarter stood at Rs.1,342.84 crore, up 11.8 per cent from Rs.1,200.97 crore in the quarter ended December 31, 2009.

SKNL’s EBIDTA for the quarter was up 21.7 per cent at Rs.264.72 crore as compared to Rs.217.48 crore in the corresponding period in the previous fiscal.

Commenting on the performance, Nitin S Kasliwal, managing director and vice chairman, SKNL, said, “The quarter reported a healthy growth with the increasing contribution of all the SBU’s to the revenues.”

He further said, “Our economy brand ‘World player’ has been received well in all cities where it has been launched. Our international operations have also started contributing substantially to our top lines. SKNL’s US subsidiary Hartmarx enables tremendous backend-frontend synergies within the group given the quality and diversity of its brand portfolio. Plans for the HVFC (high value fine cotton fabrics) facility are on schedule and operations have gained momentum during the quarter.”

– IndiaRetailing Bureau

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