Himatsingka Q2 net up 12% at Rs 11 cr

European operations take a hit

Himatsingka Seide, a vertically integrated home textile major, has reported a 12% growth in net profit at Rs 11.4 crore for the second quarter of Fy13, as compared to corresponding quarter of the previous fiscal. Consolidated revenues grew 29% at Rs 472.66 crore. Distribution revenues in North America represented by Calvin Klein Home, Barbara Barry and other brands in addition to private label lines grew by almost 10% $72.17 million.

Distribution revenues in Europe through the “Bellora” brand showed a reduction of almost 15% to Euro 3.18 million. Distribution revenues in India / West Asia / South East Asia as represented through the Atmosphere brand grew by almost 13% to Rs 12.78 crore.  Manufacturing revenues for the Drapery/Upholstery and Bedding Divisions grew by little over 16%. Consolidated EBITDA for the quarter grew by 10.8% at  Rs 41.80 crore. 

Commenting on results Shrikant Himatsingka, Executive Director, said “Our Manufacturing and Distribution divisions continue to grow and have demonstrated a satisfactory performance in view of the challenging macro-economic environment. Looking ahead, we see strong growth potential in North America and Asia for our Distribution divisions, while on the Manufacturing front, we see growth from enhanced capacity utilization and superior product mix.”