Vardhman Textiles Limited has recorded highest ever net profit of Rs 651.88 crore for the year ended ended 31st March, 2014. The net profit registered an increase of 101.37percent compared to the corresponding period last year that stood at Rs 323.72 crore.
The net profit for the quarter ended March 31, 2014 stands at Rs 154.32 crore as compared to Rs 115.25 crore in the corresponding quarter last year, an increase by 33.90 percent. However, the net profit of fourth quarter are lower compared to third quarter by Rs 175.24 crore. The net sales of the company for the year ended March 31, 2014 is Rs 5,171.31 crore as compared to Rs 4,159.71 crore for the financial year 2013 showing an increase of about 24.32 per cent.
The board of directors has recommended a dividend of Rs 6 per share on fully paid up equity shares of the company. In addition, the Board has also recommended a special dividend of Rs 5 per share on fully paid up equity shares of the company on the occasion of golden jubilee year of the group.
There has been a spurt in the margins over the corresponding period last year essentially due to favourable conditions both in respect of availability of raw material at reasonable cost and pull in the demand of textile products owing to the rise of exports to China from India.