Mandhana Industries Q2 net up 33% at Rs 23 cr

The success of Being Human brand in West Asia and Europe helped the growth

Mandhana Industries, an integrated textile player reported a 33% rise in net profit at Rs 23.34 crore for the quarter ended September 30.

Net sales for the same period was up by 45% to Rs 319.57 crore compared to Rs 221.18 crore last year.

Manish Mandhana, joint managing director of Mandhana Industries said: “After a modest performance in first quarter of the current fiscal year, we are very pleased to get back to the growth trajectory and we have achieved robust growth in both sales and profits this quarter. We have been able to achieve this mark amidst the scenario of rising raw materials prices and manufacturing costs. We are confident of attaining even higher growth rates in the next two quarters aided by increase in garment manufacturing capacities and launch of our eagerly-awaited apparel retail brand Being Human. The overwhelming success of Being Human in Middle-East and Europe has further strengthened our belief in the unique brand business model and we are extremely buoyant on the success of the brand in the home market.”