Vishal Fabrics Q1 Profit Jumps 92% to Rs 9.16 Cr

New Delhi, Aug 8 (PTI) Leading denim fabric manufacturer Vishal Fabrics on Friday reported a 92 per cent jump in profit after tax to Rs 9.16 crore for the April-June quarter compared to Rs 4.78 crore in the year-ago period.

The Chiripal Group company reported a 17 per cent increase in total income to Rs 397.18 crore in the June quarter compared to Rs 340.10 crore in the corresponding quarter of the previous financial year, according to a statement.


The performance was driven by healthy revenue momentum, efficient cost management, and strategic business initiatives, it said.


"The Indian textile industry is going through an interesting phase, with the recently concluded FTA with UK which will open up newer opportunities for the sector," Dharmesh Dattani, CFO of Vishal Fabrics, said.


“The company will continue to focus on new geographies for growth, operational efficiency, and value-added product offerings. In the quarters to come our focus will be to expand our presence in Latin America, Europe, Africa and Bangladesh,” Dattani said.